GSA Capital Partners LLP purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor purchased 65,121 shares of the company’s stock, valued at approximately $1,168,000.
Several other institutional investors and hedge funds also recently made changes to their positions in SOFI. Annex Advisory Services LLC bought a new position in SoFi Technologies in the 2nd quarter valued at approximately $1,963,000. Fiduciary Financial Group LLC bought a new stake in shares of SoFi Technologies in the 2nd quarter worth $315,000. Handelsbanken Fonder AB raised its stake in shares of SoFi Technologies by 6.5% in the second quarter. Handelsbanken Fonder AB now owns 401,900 shares of the company’s stock worth $7,206,000 after purchasing an additional 24,700 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its holdings in shares of SoFi Technologies by 17.4% during the second quarter. Wealthcare Advisory Partners LLC now owns 27,011 shares of the company’s stock valued at $484,000 after purchasing an additional 4,007 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its holdings in shares of SoFi Technologies by 6.5% during the second quarter. Valeo Financial Advisors LLC now owns 36,716 shares of the company’s stock valued at $658,000 after purchasing an additional 2,240 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.
SoFi Technologies Price Performance
NASDAQ SOFI opened at $18.31 on Tuesday. The company has a 50-day moving average price of $17.58 and a 200-day moving average price of $17.76. SoFi Technologies, Inc. has a 52 week low of $14.88 and a 52 week high of $32.73. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $23.65 billion, a P/E ratio of 38.15 and a beta of 2.17.
Key SoFi Technologies News
Here are the key news stories impacting SoFi Technologies this week:
- Positive Sentiment: Piper Sandler initiated coverage with an Overweight rating and a $22 price target, saying SoFi is a high-growth company with a powerful product flywheel and deserves a premium valuation compared with peers. The SoFi rebound has only just begun, says Piper Sandler
- Positive Sentiment: Additional coverage characterized the stock as offering an “attractive entry point,” helping reinforce investor interest after SoFi’s recent underperformance and correction. SoFi stock offers an attractive entry point: Analyst
- Positive Sentiment: Technical analysts reported that SOFI broke above a bullish flag pattern. A sustained move above approximately $20.13 could signal the end of its six-month consolidation and support a larger advance. SoFi Technologies Price Forecast: Breakout Could End Six-Month Consolidation
- Positive Sentiment: SoFi was highlighted as the strongest performer among personal-loan stocks in the recently completed second-quarter earnings season, supporting the view that its growth is outpacing industry peers. Personal Loan Stocks Q2 Earnings: SoFi Best of the Bunch
- Neutral Sentiment: Wall Street remains divided: the bullish thesis points to SoFi’s growth, diversified products and recent earnings momentum, while the premium-multiple argument implies that investors are already paying for substantial future growth. SoFi Is Dividing Wall Street
- Negative Sentiment: SoFi has lagged Happen Bank, formerly LendingClub, this year. The comparison raises competitive and valuation concerns despite SoFi’s stronger recent operating growth narrative. Happen Bank Is Crushing SoFi This Year
Wall Street Analysts Forecast Growth
Several research firms recently commented on SOFI. Stephens reduced their price objective on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a research note on Thursday, July 9th. Citigroup dropped their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating on the stock in a report on Monday, May 4th. TD Cowen reduced their price target on shares of SoFi Technologies from $24.00 to $18.00 and set a “hold” rating for the company in a research note on Thursday, April 30th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $18.00 price objective on shares of SoFi Technologies in a report on Thursday, April 30th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target of $22.42.
View Our Latest Research Report on SOFI
Insider Activity at SoFi Technologies
In other news, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares in the company, valued at $15,914,682.42. This represents a 10.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 10,954 shares of the firm’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $17.19, for a total value of $188,299.26. Following the completion of the transaction, the executive vice president directly owned 367,728 shares in the company, valued at approximately $6,321,244.32. This represents a 2.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 135,256 shares of company stock worth $2,370,822 over the last quarter. Insiders own 2.50% of the company’s stock.
About SoFi Technologies
SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.
SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.
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