Atomi Financial Group Inc. Purchases 3,573 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Atomi Financial Group Inc. grew its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 54,266 shares of the company’s stock after acquiring an additional 3,573 shares during the period. Atomi Financial Group Inc.’s holdings in SoFi Technologies were worth $427,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of SOFI. ORG Partners LLC bought a new stake in shares of SoFi Technologies during the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares during the period. GAMMA Investing LLC boosted its holdings in shares of SoFi Technologies by 65.3% during 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 during the 1st quarter worth about $37,000. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on SOFI. Barclays reduced their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reduced their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. 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, the company presently has a consensus rating of “Hold” and an average target price of $9.08.

Insider Activity

In other news, EVP Kelli Keough sold 24,939 shares of the business’s 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 transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $9.01 on Friday. The firm has a 50 day moving average of $7.56 and a 200-day moving average of $7.23. The stock has a market capitalization of $9.53 billion, a PE ratio of -29.06, a PEG ratio of 1.72 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $598.60 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

About SoFi Technologies

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.