SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Position Lifted by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 26.1% during the third quarter, HoldingsChannel.com reports. The firm owned 135,063 shares of the company’s stock after acquiring an additional 27,958 shares during the period. Janney Montgomery Scott LLC’s holdings in SoFi Technologies were worth $1,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC grew its position in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in SoFi Technologies during the third quarter valued at approximately $39,000. Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies during the third quarter valued at approximately $47,000. Finally, Blue Trust Inc. lifted its stake in SoFi Technologies by 783.5% in the second quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock valued at $59,000 after acquiring an additional 7,185 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Barclays lifted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC lifted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.32.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $13.63 on Friday. The firm has a fifty day simple moving average of $9.70 and a 200-day simple moving average of $7.93. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $14.44. The stock has a market capitalization of $14.53 billion, a price-to-earnings ratio of 136.30, a PEG ratio of 2.25 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.03) EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This represents a 17.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock valued at $904,677 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

About SoFi Technologies

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.