River Street Advisors LLC Purchases 10,223 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

River Street Advisors LLC grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 21.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 57,369 shares of the company’s stock after acquiring an additional 10,223 shares during the period. River Street Advisors LLC’s holdings in SoFi Technologies were worth $451,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies in the third quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of SoFi Technologies by 55.3% during 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. GAMMA Investing LLC raised its stake in SoFi Technologies by 65.3% in the 2nd 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. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $47,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 1.7 %

Shares of SoFi Technologies stock traded up $0.23 during trading on Friday, reaching $13.63. 48,186,516 shares of the company were exchanged, compared to its average volume of 47,592,203. The company has a quick ratio of 0.21, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $14.44. The business has a 50-day moving average price of $9.70 and a 200-day moving average price of $7.93. The firm has a market capitalization of $14.53 billion, a price-to-earnings ratio of 136.30, a P/E/G ratio of 2.25 and a beta of 1.60.

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

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This trade represents a 17.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred 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 transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,636 shares of company stock worth $904,677. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.