SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Triumph Capital Management

Triumph Capital Management lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 64.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 290,243 shares of the company’s stock after purchasing an additional 113,953 shares during the period. SoFi Technologies comprises 1.2% of Triumph Capital Management’s holdings, making the stock its 16th biggest holding. Triumph Capital Management’s holdings in SoFi Technologies were worth $2,888,000 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 business. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in SoFi Technologies by 241.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock worth $38,772,000 after buying an additional 2,755,197 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after purchasing an additional 2,567,797 shares during the period. FMR LLC lifted its stake 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 buying an additional 2,301,624 shares in the last quarter. ARK Investment Management LLC lifted its position in shares of SoFi Technologies by 143.1% in the 4th quarter. ARK Investment Management LLC now owns 1,970,742 shares of the company’s stock valued at $19,609,000 after acquiring an additional 1,160,125 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of SoFi Technologies in the third quarter valued at $6,133,000. 38.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on SOFI. Mizuho decreased their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Tuesday. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday. Three research 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 data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.08.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock traded up $0.05 during trading on Wednesday, reaching $6.83. The company’s stock had a trading volume of 34,248,665 shares, compared to its average volume of 54,005,145. SoFi Technologies, Inc. has a one year low of $4.45 and a one year high of $11.70. 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 firm has a market cap of $6.67 billion, a price-to-earnings ratio of -22.03 and a beta of 1.75. The business’s fifty day moving average price is $7.58 and its 200-day moving average price is $7.87.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The company had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. During the same period in the prior year, the business earned ($0.05) earnings per share. SoFi Technologies’s revenue for the quarter was up 26.2% compared to the same quarter last year. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

SoFi Technologies Company 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.