Cary Street Partners Financial LLC Makes New $338,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cary Street Partners Financial LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 21,977 shares of the company’s stock, valued at approximately $338,000.

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

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $13.18 on Friday. The firm’s fifty day simple moving average is $11.89 and its 200-day simple moving average is $13.83. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm had revenue of $763.81 million for the quarter, compared to analysts’ expectations of $739.93 million. During the same quarter in the previous year, the firm posted $0.02 EPS. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies 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 transaction, the executive vice president now directly owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. The trade was a 4.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock worth $1,271,115 over the last 90 days. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on SOFI shares. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price objective on the stock. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. The Goldman Sachs Group raised their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $14.38.

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.