10,083 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Purchased by Richmond Brothers Inc.

Richmond Brothers Inc. acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 2nd quarter, Holdings Channel reports. The fund acquired 10,083 shares of the company’s stock, valued at approximately $67,000. SoFi Technologies makes up approximately 0.1% of Richmond Brothers Inc.’s investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in SOFI. ORG Partners LLC purchased a new position in SoFi Technologies in the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in SoFi Technologies by 55.3% in 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 in the last quarter. SOA Wealth Advisors LLC. lifted its holdings in SoFi Technologies by 61.2% in 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 in 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 valued at $33,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new position in SoFi Technologies in the 1st quarter valued at about $37,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 0.1 %

SOFI opened at $8.11 on Thursday. The firm has a 50 day moving average price of $7.29 and a 200 day moving average price of $7.14. The company has a market cap of $8.57 billion, a PE ratio of -26.16, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. 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 quick ratio of 0.21 and a current ratio of 0.88.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million during 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 company’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.06) EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays reduced 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 report on Tuesday, July 9th. BTIG Research began coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods dropped their price objective 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. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $9.14.

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.