Truist Financial Corp Grows Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Truist Financial Corp lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 130,771 shares of the company’s stock after acquiring an additional 17,767 shares during the period. Truist Financial Corp’s holdings in SoFi Technologies were worth $638,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its position in shares of SoFi Technologies by 7.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 21,626 shares of the company’s stock valued at $114,000 after acquiring an additional 1,416 shares in the last quarter. Exos Asset Management LLC grew its position in SoFi Technologies by 20.0% in the 2nd quarter. Exos Asset Management LLC now owns 9,434 shares of the company’s stock worth $50,000 after purchasing an additional 1,570 shares during the period. Beacon Pointe Advisors LLC grew its position in SoFi Technologies by 8.2% in the 2nd quarter. Beacon Pointe Advisors LLC now owns 21,192 shares of the company’s stock worth $113,000 after purchasing an additional 1,609 shares during the period. J.W. Cole Advisors Inc. grew its position in SoFi Technologies by 8.4% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 24,400 shares of the company’s stock worth $129,000 after purchasing an additional 1,900 shares during the period. Finally, Game Plan Financial Advisors LLC grew its position in SoFi Technologies by 8.9% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 23,300 shares of the company’s stock worth $123,000 after purchasing an additional 1,900 shares during the period. Institutional investors own 34.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SOFI. Mizuho cut their target price on shares of SoFi Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, November 23rd. Piper Sandler cut their target price on shares of SoFi Technologies from $8.50 to $7.50 and set an “overweight” rating for the company in a research report on Thursday, December 15th. Wedbush cut their target price on shares of SoFi Technologies from $8.00 to $6.00 and set an “outperform” rating for the company in a research report on Wednesday, November 23rd. The Goldman Sachs Group cut their price objective on shares of SoFi Technologies from $8.50 to $7.50 and set a “neutral” rating for the company in a research report on Wednesday, November 2nd. Finally, JPMorgan Chase & Co. assumed coverage on shares of SoFi Technologies in a research report on Tuesday, January 17th. They set a “neutral” rating and a $6.00 price objective for the company. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $9.50.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $5.67 on Monday. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.88. SoFi Technologies, Inc. has a 12-month low of $4.24 and a 12-month high of $14.98. The stock has a 50-day moving average price of $4.83 and a 200 day moving average price of $5.58. The stock has a market capitalization of $5.26 billion, a P/E ratio of -11.34 and a beta of 1.38.

SoFi Technologies (NASDAQ:SOFIGet Rating) last released its earnings results on Tuesday, November 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.01. SoFi Technologies had a negative return on equity of 7.85% and a negative net margin of 26.64%. The firm had revenue of $423.99 million during the quarter, compared to analysts’ expectations of $390.96 million. Equities research analysts forecast that SoFi Technologies, Inc. will post -0.43 EPS for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, CEO Anthony Noto bought 225,000 shares of the business’s stock in a transaction that occurred on Thursday, December 15th. The stock was purchased at an average price of $4.59 per share, for a total transaction of $1,032,750.00. Following the completion of the transaction, the chief executive officer now owns 5,358,612 shares of the company’s stock, valued at approximately $24,596,029.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders acquired 1,040,100 shares of company stock worth $4,577,304. 13.00% of the stock is owned by corporate insiders.

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.

Further Reading

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

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