SPX Gestao de Recursos Ltda Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

SPX Gestao de Recursos Ltda bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 100,000 shares of the company’s stock, valued at approximately $1,540,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors grew its position in SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares during the period. Summit Trail Advisors LLC grew its position in SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after buying an additional 855 shares during the period. CIBC Asset Management Inc grew its position in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after buying an additional 962 shares during the period. Oak Harbor Wealth Partners LLC grew its position in SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the period. Finally, Procyon Advisors LLC grew its position in SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Bank of America restated an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. UBS Group increased their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Citigroup increased their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

SOFI stock opened at $11.18 on Tuesday. The firm has a 50 day moving average of $15.15 and a 200-day moving average of $12.77. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The firm has a market capitalization of $12.26 billion, a P/E ratio of 30.22, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period last year, the company earned $0.04 earnings per share. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 144,004 shares of company stock worth $2,292,100. 2.60% of the stock is owned by company insiders.

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.