Wedmont Private Capital Acquires New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Wedmont Private Capital purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 14,829 shares of the company’s stock, valued at approximately $123,000.

Other hedge funds have also modified their holdings of the company. EP Wealth Advisors LLC lifted its stake in SoFi Technologies by 0.4% in the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after acquiring an additional 1,508 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 during the last quarter. SOA Wealth Advisors LLC. boosted its holdings in SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares in the last quarter. GAMMA Investing LLC increased its position in SoFi Technologies by 65.3% during the second 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 last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in SoFi Technologies by 16.0% during the first quarter. Banque Cantonale Vaudoise now owns 14,500 shares of the company’s stock valued at $107,000 after buying an additional 2,000 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Keefe, Bruyette & Woods lowered their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, Barclays dropped their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report 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. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.08.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $9.01 on Monday. 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, Inc. has a one year low of $6.01 and a one year high of $10.49. The company has a fifty day moving average price of $7.56 and a 200 day moving average price of $7.23. The stock has a market cap of $9.53 billion, a P/E ratio of -29.06, a PEG ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same quarter in the prior year, the business earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction 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 sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is currently owned by company insiders.

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.