PFG Investments LLC Raises Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

PFG Investments LLC increased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 109.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 62,222 shares of the company’s stock after purchasing an additional 32,567 shares during the period. PFG Investments LLC’s holdings in SoFi Technologies were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SOFI. GAMMA Investing LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at about $27,000. Westside Investment Management Inc. raised its holdings in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares in the last quarter. Tortoise Investment Management LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $39,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $40,000. Finally, Jones Financial Companies Lllp purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Down 3.8 %

Shares of SOFI traded down $0.26 on Tuesday, reaching $6.78. The stock had a trading volume of 78,125,041 shares, compared to its average volume of 54,248,082. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of -17.84 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The company has a 50-day simple moving average of $7.58 and a 200-day simple moving average of $7.87. SoFi Technologies, Inc. has a 12-month low of $4.45 and a 12-month high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.05) earnings per share. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on SOFI. Jefferies Financial Group decreased their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Mizuho decreased their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Deutsche Bank Aktiengesellschaft decreased their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday. Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday. Finally, Citigroup began coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $9.08.

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.