SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by Park Avenue Securities LLC

Park Avenue Securities LLC increased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 45.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 14,782 shares of the company’s stock after acquiring an additional 4,592 shares during the period. Park Avenue Securities LLC’s holdings in SoFi Technologies were worth $116,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SOFI. ORG Partners LLC acquired a new position in shares of SoFi Technologies during the first quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its position 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 buying an additional 1,543 shares during the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares in the last quarter. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 1,981 shares during the last quarter. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of SoFi Technologies during the first quarter worth about $37,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction 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 sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, 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. Insiders have sold a total of 102,328 shares of company stock valued at $808,246 in the last quarter. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $10.04 on Tuesday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The firm’s 50-day moving average price is $7.63 and its two-hundred day moving average price is $7.25. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $10.49. The stock has a market capitalization of $10.61 billion, a P/E ratio of -32.39, a P/E/G ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly 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. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same quarter last year, the business posted ($0.06) EPS. The business’s revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SOFI. Barclays lowered their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company 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 report on Tuesday, July 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average price target of $9.08.

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.