CoreCap Advisors LLC Increases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

CoreCap Advisors LLC boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 105.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,889 shares of the company’s stock after acquiring an additional 8,677 shares during the quarter. CoreCap Advisors LLC’s holdings in SoFi Technologies were worth $260,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after buying an additional 8,898,879 shares during the period. Geode Capital Management LLC boosted its stake in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock valued at $276,288,000 after buying an additional 315,899 shares during the period. Norges Bank purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $103,678,000. Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock valued at $97,230,000 after buying an additional 167,780 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of SoFi Technologies by 22.7% in the 4th quarter. Northern Trust Corp now owns 6,052,301 shares of the company’s stock valued at $93,205,000 after buying an additional 1,121,550 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the business’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 completion of the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. The trade was a 5.14% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,172 shares of company stock valued at $1,271,115. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SOFI shares. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. JMP Securities assumed coverage on SoFi Technologies in a research note on Friday, April 25th. They set a “market outperform” rating and a $17.00 target price for the company. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Citizens Jmp assumed coverage on SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 target price for the company. Finally, UBS Group boosted their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $14.38.

SoFi Technologies Trading Down 0.6%

SOFI opened at $13.18 on Monday. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The business’s 50 day moving average is $11.89 and its two-hundred day moving average is $13.87. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm’s revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 earnings per share. On average, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.