Harbour Investments Inc. Raises Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Harbour Investments Inc. grew its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,099 shares of the company’s stock after buying an additional 2,985 shares during the period. Harbour Investments Inc.’s holdings in SoFi Technologies were worth $488,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Stratos Wealth Advisors LLC lifted its position in SoFi Technologies by 3.3% in the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the last quarter. NBC Securities Inc. lifted its position in SoFi Technologies by 12.7% in the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after buying an additional 1,081 shares during the last quarter. Rosenberg Matthew Hamilton lifted its position in SoFi Technologies by 11.4% in the third quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after buying an additional 1,226 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in SoFi Technologies by 55.3% in the second 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. Finally, Pegasus Asset Management Inc. lifted its stake in SoFi Technologies by 1.4% during the third quarter. Pegasus Asset Management Inc. now owns 112,951 shares of the company’s stock worth $888,000 after purchasing an additional 1,607 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on SOFI. Needham & Company LLC boosted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $13.63 on Friday. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $14.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.21. The firm has a market capitalization of $14.53 billion, a PE ratio of 136.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.60. The business’s fifty day moving average price is $9.70 and its 200 day moving average price is $7.94.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.03) EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies 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.