HighPoint Advisor Group LLC Invests $1.16 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

HighPoint Advisor Group LLC purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 116,570 shares of the company’s stock, valued at approximately $1,160,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SOFI. Janney Montgomery Scott LLC lifted its holdings in shares of SoFi Technologies by 72.2% in the third quarter. Janney Montgomery Scott LLC now owns 85,290 shares of the company’s stock worth $681,000 after buying an additional 35,750 shares in the last quarter. QRG Capital Management Inc. bought a new position in SoFi Technologies during the third quarter valued at approximately $405,000. FMR LLC grew its position in SoFi Technologies by 14,136.9% during the third quarter. FMR LLC now owns 2,317,905 shares of the company’s stock valued at $18,520,000 after acquiring an additional 2,301,624 shares during the last quarter. Invesco Ltd. grew its position in SoFi Technologies by 10.2% during the third quarter. Invesco Ltd. now owns 808,635 shares of the company’s stock valued at $6,461,000 after acquiring an additional 74,621 shares during the last quarter. Finally, Clear Street Markets LLC bought a new position in SoFi Technologies during the third quarter valued at approximately $69,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent research reports. Citigroup initiated coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price target for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Jefferies Financial Group decreased their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Price Performance

SoFi Technologies stock traded up $0.06 during mid-day trading on Tuesday, reaching $6.52. The stock had a trading volume of 3,118,870 shares, compared to its average volume of 49,054,805. The company has a 50-day moving average price of $7.10 and a two-hundred day moving average price of $7.80. SoFi Technologies, Inc. has a one year low of $6.30 and a one year high of $11.70. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. SoFi Technologies’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto bought 30,715 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was acquired at an average price of $6.48 per share, with a total value of $199,033.20. Following the transaction, the chief executive officer now owns 8,121,844 shares in the company, valued at $52,629,549.12. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other SoFi Technologies news, CEO Anthony Noto purchased 30,715 shares of SoFi Technologies stock in a transaction dated Friday, June 14th. The stock was purchased at an average price of $6.48 per share, with a total value of $199,033.20. Following the transaction, the chief executive officer now directly owns 8,121,844 shares of the company’s stock, valued at $52,629,549.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. In the last 90 days, insiders acquired 88,390 shares of company stock valued at $597,569. 2.60% of the stock is owned by 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.