Waldron Private Wealth LLC Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Waldron Private Wealth LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 4,947 shares of the company’s stock, valued at approximately $39,000.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after buying an additional 6,870,610 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in SoFi Technologies by 176.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after acquiring an additional 6,870,610 shares during the last quarter. Marshall Wace LLP increased its position in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after acquiring an additional 3,593,464 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after acquiring an additional 2,440,745 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 111,636 shares of company stock valued at $904,677. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $10.93 on Friday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $11.30. The company has a fifty day moving average of $8.15 and a 200-day moving average of $7.39. The firm has a market capitalization of $11.56 billion, a P/E ratio of -36.19, a P/E/G ratio of 1.72 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) earnings per share. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SOFI shares. Keefe, Bruyette & Woods reduced their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays decreased their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $9.25.

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.