Huntington National Bank Boosts Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Huntington National Bank increased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 442.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,856 shares of the company’s stock after purchasing an additional 7,222 shares during the quarter. Huntington National Bank’s holdings in SoFi Technologies were worth $70,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the third quarter valued at $27,000. Allspring Global Investments Holdings LLC lifted its position in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC boosted its stake in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies in the third quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies during the third quarter valued at approximately $47,000. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on SOFI shares. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.40.

SoFi Technologies Trading Up 2.2 %

NASDAQ:SOFI opened at $13.93 on Tuesday. The company has a 50 day simple moving average of $9.84 and a two-hundred day simple moving average of $8.00. The company has a market cap of $14.85 billion, a PE ratio of 139.31, a price-to-earnings-growth ratio of 2.27 and a beta of 1.60. 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 12 month low of $6.01 and a 12 month high of $14.44.

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

Insider Activity

In other news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction 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 completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock valued at $904,677 in the last quarter. 2.60% of the stock is currently owned by insiders.

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.