Great Valley Advisor Group Inc. Makes New $580,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Great Valley Advisor Group Inc. bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, Holdings Channel reports. The firm bought 58,276 shares of the company’s stock, valued at approximately $580,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of SoFi Technologies by 241.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock worth $38,772,000 after buying an additional 2,755,197 shares in the last quarter. Vanguard Group Inc. boosted its stake in SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after purchasing an additional 2,567,797 shares during the last quarter. FMR LLC increased its holdings in shares of SoFi Technologies by 14,136.9% in the 3rd quarter. FMR LLC now owns 2,317,905 shares of the company’s stock worth $18,520,000 after purchasing an additional 2,301,624 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of SoFi Technologies by 143.1% in the 4th quarter. ARK Investment Management LLC now owns 1,970,742 shares of the company’s stock worth $19,609,000 after purchasing an additional 1,160,125 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of SoFi Technologies in the third quarter worth $6,133,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Down 0.4 %

SOFI stock opened at $6.96 on Friday. The business’s 50-day moving average price is $7.51 and its 200-day moving average price is $7.85. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Jefferies Financial Group reduced their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Morgan Stanley restated an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $9.08.

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.