Cwm LLC lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 76.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,890 shares of the company’s stock after purchasing an additional 5,586 shares during the period. Cwm LLC’s holdings in SoFi Technologies were worth $63,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in SOFI. NewSquare Capital LLC grew its holdings in SoFi Technologies by 233.3% during the 2nd quarter. NewSquare Capital LLC now owns 5,000 shares of the company’s stock worth $26,000 after acquiring an additional 3,500 shares in the last quarter. TimeScale Financial Inc. grew its holdings in SoFi Technologies by 75.1% during the 2nd quarter. TimeScale Financial Inc. now owns 5,380 shares of the company’s stock worth $28,000 after acquiring an additional 2,308 shares in the last quarter. US Bancorp DE grew its holdings in SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after acquiring an additional 2,000 shares in the last quarter. Emerald Advisers LLC bought a new position in SoFi Technologies during the 2nd quarter worth about $31,000. Finally, UMB Bank n.a. bought a new position in SoFi Technologies during the 2nd quarter worth about $33,000. 34.32% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
SOFI has been the topic of a number of recent analyst reports. Piper Sandler lowered their price target on shares of SoFi Technologies from $8.50 to $7.50 and set an “overweight” rating on the stock in a report on Thursday, December 15th. JPMorgan Chase & Co. assumed coverage on shares of SoFi Technologies in a research note on Tuesday. They issued a “neutral” rating and a $6.00 target price for the company. The Goldman Sachs Group cut their price target on shares of SoFi Technologies from $8.50 to $7.50 and set a “neutral” rating on the stock in a report on Wednesday, November 2nd. Morgan Stanley cut their price target on shares of SoFi Technologies from $7.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, December 1st. Finally, Mizuho cut their price target on shares of SoFi Technologies from $7.00 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, November 23rd. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, SoFi Technologies has an average rating of “Moderate Buy” and a consensus target price of $9.50.
Insider Buying and Selling at SoFi Technologies
SoFi Technologies Price Performance
NASDAQ:SOFI opened at $5.56 on Thursday. SoFi Technologies, Inc. has a one year low of $4.24 and a one year high of $16.47. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.23 and a current ratio of 2.23. The firm has a market cap of $5.16 billion, a price-to-earnings ratio of -11.12 and a beta of 1.38. The firm’s fifty day moving average is $4.83 and its two-hundred day moving average is $5.58.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.01. SoFi Technologies had a negative net margin of 26.64% and a negative return on equity of 7.85%. The company had revenue of $423.99 million for the quarter, compared to analyst estimates of $390.96 million. Research analysts expect that SoFi Technologies, Inc. will post -0.44 EPS for the current year.
SoFi Technologies Company Profile
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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