FORA Capital LLC Increases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

FORA Capital LLC boosted its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 327.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 667,278 shares of the company’s stock after purchasing an additional 511,319 shares during the period. SoFi Technologies comprises approximately 1.2% of FORA Capital LLC’s holdings, making the stock its 14th largest position. FORA Capital LLC’s holdings in SoFi Technologies were worth $10,276,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the 4th quarter worth about $27,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies in the 4th quarter valued at $31,000. FNY Investment Advisers LLC raised its holdings in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the period. IAG Wealth Partners LLC acquired a new position in shares of SoFi Technologies during the fourth quarter worth $38,000. Finally, Legacy Investment Solutions LLC lifted its holdings in SoFi Technologies by 116.3% in the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company’s stock worth $48,000 after buying an additional 1,744 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SOFI shares. Citizens Jmp assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set an “outperform” rating and a $17.00 price objective for the company. Needham & Company LLC restated a “buy” rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Barclays increased their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Finally, The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $14.38.

SoFi Technologies Stock Performance

SOFI stock opened at $13.01 on Thursday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The firm has a 50 day simple moving average of $11.90 and a 200 day simple moving average of $13.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market cap of $14.27 billion, a P/E ratio of 35.16, a P/E/G ratio of 2.24 and a beta of 1.84.

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

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares of the company’s stock, valued at $2,877,391.20. The trade was a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,172 shares of company stock worth $1,271,115 in the last ninety days. Company insiders own 2.60% of the company’s stock.

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.