Oppenheimer & Co. Inc. Grows Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Oppenheimer & Co. Inc. boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 246,803 shares of the company’s stock after acquiring an additional 16,999 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in SoFi Technologies were worth $1,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC bought a new stake in SoFi Technologies in the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC increased its holdings in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. SOA Wealth Advisors LLC. raised its position in SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after purchasing an additional 1,713 shares during the last quarter. GAMMA Investing LLC lifted its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $37,000. 38.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Barclays cut their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, BTIG Research assumed coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus target price of $9.14.

SoFi Technologies Price Performance

SOFI opened at $8.12 on Wednesday. The firm has a market cap of $8.58 billion, a PE ratio of -26.19, a P/E/G ratio of 1.48 and a beta of 1.70. The stock has a 50-day moving average price of $7.26 and a 200-day moving average price of $7.14. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $10.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) earnings per share. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares in the company, valued at $2,906,704.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Company 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.