Commonwealth Equity Services LLC Increases Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Commonwealth Equity Services LLC raised its position in SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) by 25.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 625,894 shares of the company’s stock after purchasing an additional 127,848 shares during the quarter. Commonwealth Equity Services LLC owned about 0.08% of SoFi Technologies worth $5,914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. DCM International VI Ltd. acquired a new position in SoFi Technologies in the 4th quarter valued at about $185,092,000. Geode Capital Management LLC boosted its holdings in SoFi Technologies by 12.0% in the 4th quarter. Geode Capital Management LLC now owns 6,031,801 shares of the company’s stock valued at $95,207,000 after purchasing an additional 647,121 shares during the last quarter. State Street Corp boosted its holdings in SoFi Technologies by 222.0% in the 4th quarter. State Street Corp now owns 5,929,036 shares of the company’s stock valued at $93,738,000 after purchasing an additional 4,087,917 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in SoFi Technologies by 12.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,155,648 shares of the company’s stock valued at $49,891,000 after purchasing an additional 345,699 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in SoFi Technologies by 80.7% in the 4th quarter. Northern Trust Corp now owns 1,899,144 shares of the company’s stock valued at $30,026,000 after purchasing an additional 848,206 shares during the last quarter. 56.45% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Up 0.8 %

Shares of NASDAQ:SOFI opened at $6.41 on Wednesday. SoFi Technologies, Inc. has a 52 week low of $4.82 and a 52 week high of $24.65. The company’s 50 day moving average is $6.28 and its two-hundred day moving average is $8.33. The company has a current ratio of 5.60, a quick ratio of 5.60 and a debt-to-equity ratio of 0.94. The company has a market cap of $5.87 billion, a PE ratio of -7.82 and a beta of 1.53.

SoFi Technologies (NASDAQ:SOFIGet Rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). SoFi Technologies had a negative net margin of 36.32% and a negative return on equity of 9.24%. The company had revenue of $321.70 million for the quarter, compared to the consensus estimate of $283.99 million. SoFi Technologies’s quarterly revenue was up 48.9% on a year-over-year basis. Equities analysts predict that SoFi Technologies, Inc. will post -0.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the topic of several recent analyst reports. Credit Suisse Group decreased their target price on shares of SoFi Technologies from $15.50 to $9.50 in a report on Wednesday, May 11th. Wedbush decreased their price objective on shares of SoFi Technologies from $20.00 to $15.00 in a report on Thursday, April 7th. Bank of America decreased their price objective on shares of SoFi Technologies from $12.00 to $7.00 in a report on Tuesday, May 10th. Piper Sandler decreased their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a report on Wednesday, June 29th. Finally, Moffett Nathanson initiated coverage on shares of SoFi Technologies in a report on Tuesday, April 5th. They issued a “buy” rating and a $13.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Moderate Buy” and a consensus price target of $13.73.

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto acquired 13,500 shares of the company’s stock in a transaction on Thursday, May 19th. The shares were bought at an average cost of $7.79 per share, with a total value of $105,165.00. Following the transaction, the chief executive officer now owns 3,212,839 shares in the company, valued at approximately $25,028,015.81. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, EVP Michelle Gill sold 50,000 shares of the stock in a transaction on Tuesday, June 14th. The shares were sold at an average price of $5.48, for a total value of $274,000.00. Following the transaction, the executive vice president now directly owns 1,831,223 shares of the company’s stock, valued at approximately $10,035,102.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Anthony Noto bought 13,500 shares of the company’s stock in a transaction that occurred on Thursday, May 19th. The stock was bought at an average cost of $7.79 per share, for a total transaction of $105,165.00. Following the completion of the transaction, the chief executive officer now directly owns 3,212,839 shares in the company, valued at $25,028,015.81. The disclosure for this purchase can be found here. In the last three months, insiders have bought 257,753 shares of company stock valued at $1,561,711. Insiders own 13.00% of the company’s stock.

SoFi Technologies Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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