Advisory Services Network LLC Buys 118,280 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Advisory Services Network LLC grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) by 185.0% during the first quarter, Holdings Channel reports. The institutional investor owned 182,203 shares of the company’s stock after purchasing an additional 118,280 shares during the quarter. Advisory Services Network LLC’s holdings in SoFi Technologies were worth $1,722,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SOFI. Lincoln National Corp grew its stake in SoFi Technologies by 3.0% in the first quarter. Lincoln National Corp now owns 56,782 shares of the company’s stock worth $536,000 after purchasing an additional 1,668 shares during the period. SOA Wealth Advisors LLC. raised its position in shares of SoFi Technologies by 113.3% in the 1st quarter. SOA Wealth Advisors LLC. now owns 3,200 shares of the company’s stock worth $30,000 after purchasing an additional 1,700 shares during the last quarter. Benedetti & Gucer Inc. raised its position in SoFi Technologies by 8.9% in the 1st quarter. Benedetti & Gucer Inc. now owns 21,533 shares of the company’s stock worth $203,000 after buying an additional 1,768 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its position in SoFi Technologies by 125.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,375 shares of the company’s stock worth $32,000 after buying an additional 1,875 shares during the last quarter. Finally, Lindbrook Capital LLC raised its position in SoFi Technologies by 18.1% in the 1st quarter. Lindbrook Capital LLC now owns 12,376 shares of the company’s stock worth $117,000 after buying an additional 1,900 shares during the last quarter. Hedge funds and other institutional investors own 38.19% of the company’s stock.

SoFi Technologies Stock Performance

SOFI stock opened at $6.05 on Monday. The firm has a market cap of $5.54 billion, a price-to-earnings ratio of -13.15 and a beta of 1.53. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. SoFi Technologies, Inc. has a twelve month low of $4.82 and a twelve month high of $24.65. The business’s fifty day simple moving average is $6.55 and its two-hundred day simple moving average is $7.03.

SoFi Technologies (NASDAQ:SOFIGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $362.53 million for the quarter, compared to analyst estimates of $346.39 million. SoFi Technologies had a negative return on equity of 7.30% and a negative net margin of 27.19%. Analysts predict that SoFi Technologies, Inc. will post -0.45 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SOFI shares. Piper Sandler decreased their target price on SoFi Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Wednesday, June 29th. Bank of America raised shares of SoFi Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $8.00 to $9.00 in a research report on Wednesday, September 14th. Credit Suisse Group upped their price target on shares of SoFi Technologies from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, August 3rd. Bank Of America (Bofa) raised shares of SoFi Technologies from a “neutral” rating to a “buy” rating and upped their price target for the company from $8.00 to $9.00 in a research report on Wednesday, September 14th. Finally, Seaport Res Ptn reiterated a “neutral” rating on shares of SoFi Technologies in a research note on Friday, September 9th. Five research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.36.

Insider Activity

In related news, major shareholder Group Corp Softbank sold 5,381,785 shares of the firm’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $7.99, for a total transaction of $43,000,462.15. Following the sale, the insider now owns 89,900,110 shares of the company’s stock, valued at $718,301,878.90. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 13.00% of the company’s stock.

About SoFi Technologies

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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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