Kennedy Investment Group Has $755,000 Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kennedy Investment Group lessened its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 64,900 shares of the company’s stock after selling 5,300 shares during the period. Kennedy Investment Group’s holdings in SoFi Technologies were worth $755,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $27,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies during the 4th quarter valued at $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at $32,000. IAG Wealth Partners LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at $38,000. Finally, Garde Capital Inc. acquired a new stake in shares of SoFi Technologies in the first quarter valued at $31,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Trading Down 1.0%

NASDAQ SOFI opened at $15.20 on Friday. The company has a market cap of $16.80 billion, a PE ratio of 37.07, a PEG ratio of 2.64 and a beta of 1.82. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The stock has a 50 day moving average of $13.22 and a 200-day moving average of $13.94. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its 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 net margin of 17.21% and a return on equity of 3.34%. The business had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same period last year, the business posted $0.02 EPS. SoFi Technologies’s revenue was up 32.7% on a year-over-year basis. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Ratings Changes

SOFI has been the subject of several research reports. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Stephens started coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 price target for the company. Barclays raised their price target 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. Citizens Jmp started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price target for the company. Finally, Truist Financial started coverage on SoFi Technologies in a research note on Monday, June 2nd. They issued a “hold” rating and a $14.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $14.73.

Insider Activity

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $13.95, for a total transaction of $1,215,603.00. Following the completion of the sale, the director now owns 376,398 shares of the company’s stock, valued at $5,250,752.10. This trade represents a 18.80% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president now owns 203,509 shares of the company’s stock, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,981 shares of company stock valued at $2,743,434 over the last three months. Insiders own 2.60% of the company’s stock.

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.