Byrne Asset Management LLC Invests $45,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

Byrne Asset Management LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 3,872 shares of the company’s stock, valued at approximately $45,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Two Sigma Advisers LP acquired a new position in SoFi Technologies during the fourth quarter valued at $299,980,000. Vanguard Group Inc. raised its position in SoFi Technologies by 9.9% during the fourth 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. Norges Bank acquired a new position in SoFi Technologies during the fourth quarter valued at $103,678,000. Voloridge Investment Management LLC acquired a new position in SoFi Technologies during the fourth quarter valued at $75,139,000. Finally, Amundi raised its position in SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after buying an additional 2,700,543 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director now owns 289,258 shares in the company, valued at $4,162,422.62. This represents a 23.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction that occurred 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 approximately $2,877,391.20. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,787 shares of company stock valued at $3,753,076 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SOFI has been the topic of several recent analyst reports. Barclays upped their price target on SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Truist Financial initiated coverage on SoFi Technologies in a research report on Monday, June 2nd. They set a “hold” rating and a $14.00 price target on the stock. Needham & Company LLC reissued a “buy” rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Citizens Jmp began coverage on SoFi Technologies in a research report on Friday, April 25th. They set an “outperform” rating and a $17.00 price target on the stock. Finally, Stephens began coverage on SoFi Technologies in a research note on Thursday. They issued an “overweight” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $14.73.

SoFi Technologies Stock Down 5.4%

Shares of SoFi Technologies stock opened at $14.09 on Friday. The stock has a market capitalization of $15.57 billion, a P/E ratio of 38.08, a PEG ratio of 2.24 and a beta of 1.82. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average price of $12.79 and a two-hundred day moving average price of $13.97. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.02 earnings per share. Equities analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share 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.