Proficio Capital Partners LLC Purchases New Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Proficio Capital Partners LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 33,295 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. M&T Bank Corp lifted its stake in SoFi Technologies by 16.1% in the 4th quarter. M&T Bank Corp now owns 52,912 shares of the company’s stock valued at $815,000 after buying an additional 7,330 shares in the last quarter. Cookson Peirce & Co. Inc. purchased a new position in SoFi Technologies in the 4th quarter valued at about $607,000. Victory Capital Management Inc. lifted its stake in SoFi Technologies by 104.4% in the 4th quarter. Victory Capital Management Inc. now owns 262,979 shares of the company’s stock valued at $4,050,000 after buying an additional 134,318 shares in the last quarter. Ring Mountain Capital LLC purchased a new position in SoFi Technologies in the 4th quarter valued at about $159,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock worth $97,230,000 after purchasing an additional 167,780 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Needham & Company LLC raised their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Citigroup raised their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Up 1.8 %

SOFI stock opened at $12.87 on Monday. The firm has a market cap of $14.11 billion, a PE ratio of 34.78, a PEG ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.05. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the firm posted $0.04 earnings per share. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,905 shares of company stock worth $1,308,075. Insiders own 2.60% of the company’s stock.

SoFi Technologies Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.