C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Invests $196,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 12,751 shares of the company’s stock, valued at approximately $196,000.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after acquiring an additional 310,532 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares during the last quarter. Azora Capital LP raised its holdings in shares of SoFi Technologies by 8.8% in the third quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after acquiring an additional 352,901 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after acquiring an additional 2,688,847 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $15.56 on Friday. The firm has a market capitalization of $16.88 billion, a PE ratio of 42.05, a P/E/G ratio of 2.43 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business has a 50-day moving average of $15.73 and a two-hundred day moving average of $12.13. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter last year, the firm earned $0.04 earnings per share. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the sale, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. The trade was a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 25,999,280 shares of company stock valued at $416,810,442 over the last quarter. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SOFI. Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Needham & Company LLC upped their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Finally, Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies 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.