Cary Street Partners Financial LLC Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cary Street Partners Financial LLC bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 21,977 shares of the company’s stock, valued at approximately $338,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $27,000. Hollencrest Capital Management purchased a new position in SoFi Technologies in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC boosted its holdings in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the 4th quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC raised its holdings in shares of SoFi Technologies by 116.3% during the fourth quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company’s stock valued at $48,000 after acquiring an additional 1,744 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. UBS Group boosted their price target on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued an “outperform” rating and a $17.00 price target on the stock. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $14.38.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,172 shares of company stock worth $1,271,115. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

SOFI stock opened at $13.18 on Friday. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The business has a fifty day moving average of $11.89 and a two-hundred day moving average of $13.83. The stock has a market cap of $14.45 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. SoFi Technologies’s revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.