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Several other large investors have also made changes to their positions in SOFI. US Bancorp DE grew its holdings in SoFi Technologies by 197.0% during the first quarter. US Bancorp DE now owns 3,015 shares of the company's stock worth $28,000 after acquiring an additional 2,000 shares during the period. Advisors Asset Management Inc. purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $36,000. Savior LLC acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $44,000. American International Group Inc. purchased a new position in shares of SoFi Technologies during the 2nd quarter valued at approximately $44,000. Finally, Carnegie Capital Asset Management LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $46,000. 34.32% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CEO Anthony Noto bought 180,000 shares of the business's stock in a transaction on Friday, March 10th. The stock was acquired at an average cost of $5.53 per share, with a total value of $995,400.00. Following the purchase, the chief executive officer now directly owns 5,984,110 shares of the company's stock, valued at $33,092,128.30. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, General Counsel Robert S. Lavet sold 200,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, February 2nd. The shares were sold at an average price of $8.06, for a total transaction of $1,612,000.00. Following the sale, the general counsel now owns 1,253,269 shares of the company's stock, valued at approximately $10,101,348.14. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Anthony Noto acquired 180,000 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was acquired at an average price of $5.53 per share, with a total value of $995,400.00. Following the completion of the transaction, the chief executive officer now directly owns 5,984,110 shares of the company's stock, valued at approximately $33,092,128.30. The disclosure for this purchase can be found here. 13.00% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms recently commented on SOFI. JPMorgan Chase & Co. started coverage on shares of SoFi Technologies in a research report on Tuesday, January 17th. They set a "neutral" rating and a $6.00 price target on the stock. Mizuho upped their price target on SoFi Technologies from $6.00 to $9.00 and gave the stock a "buy" rating in a report on Wednesday, February 15th. Piper Sandler dropped their price objective on SoFi Technologies from $8.50 to $7.50 and set an "overweight" rating on the stock in a report on Thursday, December 15th. Credit Suisse Group cut their price objective on SoFi Technologies from $8.00 to $7.50 and set a "neutral" rating for the company in a research report on Tuesday, January 31st. Finally, Wedbush increased their target price on SoFi Technologies from $6.00 to $8.00 in a research report on Monday, January 30th. Five analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, SoFi Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.00.
SoFi Technologies Stock Performance
Shares of SOFI opened at $5.91 on Tuesday. The firm's fifty day moving average is $6.30 and its two-hundred day moving average is $5.49. The company has a quick ratio of 0.27, a current ratio of 2.00 and a debt-to-equity ratio of 1.05. SoFi Technologies, Inc. has a 52-week low of $4.24 and a 52-week high of $8.52.
$SoFi Technologies Inc.(SOFI)$ last posted its quarterly earnings results on Monday, January 30th. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.09) by $0.04. The firm had revenue of $443.40 million for the quarter, compared to analyst estimates of $425.84 million. SoFi Technologies had a negative net margin of 19.53% and a negative return on equity of 6.17%. SoFi Technologies's quarterly revenue was up 58.4% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) earnings per share. Equities analysts predict that SoFi Technologies, Inc. will post -0.2 earnings per share for the current fiscal year.
SoFi Technologies Profile
SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)
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