SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 17.2% in the fourth quarter, HoldingsChannel reports. The firm owned 117,813 shares of the company’s stock after acquiring an additional 17,256 shares during the quarter. Kovack Advisors Inc.’s holdings in SoFi Technologies were worth $1,172,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Atria Wealth Solutions Inc. lifted its holdings in shares of SoFi Technologies by 7.5% during the fourth quarter. Atria Wealth Solutions Inc. now owns 329,237 shares of the company’s stock worth $3,276,000 after purchasing an additional 22,963 shares during the period. GAMMA Investing LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $27,000. Handelsbanken Fonder AB lifted its holdings in shares of SoFi Technologies by 17.1% during the fourth quarter. Handelsbanken Fonder AB now owns 156,800 shares of the company’s stock worth $1,560,000 after purchasing an additional 22,900 shares during the period. CWM LLC raised its position in SoFi Technologies by 183.7% during the fourth quarter. CWM LLC now owns 38,721 shares of the company’s stock valued at $385,000 after acquiring an additional 25,072 shares in the last quarter. Finally, CNB Bank purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Trading Up 3.7 %

NASDAQ SOFI traded up $0.28 on Friday, reaching $7.87. 88,630,965 shares of the company were exchanged, compared to its average volume of 37,067,720. The business’s fifty day moving average price is $7.64 and its 200 day moving average price is $7.90. The stock has a market capitalization of $7.69 billion, a P/E ratio of -20.71 and a beta of 1.75. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.05) earnings per share. Analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s 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 transaction, the chief technology officer now owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on SOFI shares. Mizuho reduced their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Jefferies Financial Group reduced their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Needham & Company LLC started coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They set a “buy” rating and a $10.00 price target for the company. Citigroup initiated coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target for the company. Finally, Morgan Stanley restated an “underweight” rating and issued a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $9.08.

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.