Great Valley Advisor Group Inc. Buys New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Great Valley Advisor Group Inc. purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 58,276 shares of the company’s stock, valued at approximately $580,000.

Other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC boosted its position in SoFi Technologies by 23.5% during the third quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock valued at $275,000 after acquiring an additional 6,548 shares during the last quarter. Simplicity Solutions LLC increased its holdings in SoFi Technologies by 42.1% in the third quarter. Simplicity Solutions LLC now owns 17,385 shares of the company’s stock worth $139,000 after purchasing an additional 5,147 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in SoFi Technologies by 12.9% in the third quarter. Commonwealth Equity Services LLC now owns 1,075,755 shares of the company’s stock valued at $8,595,000 after buying an additional 123,289 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in SoFi Technologies by 102.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock valued at $3,962,000 after buying an additional 250,854 shares during the period. Finally, Stratos Wealth Partners LTD. grew its position in shares of SoFi Technologies by 79.2% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 74,339 shares of the company’s stock worth $594,000 after buying an additional 32,861 shares during the period. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $6.96 on Friday. The firm has a 50 day moving average price of $7.51 and a 200-day moving average price of $7.85. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The business had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. SoFi Technologies’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SOFI has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price objective for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Wedbush reaffirmed an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Mizuho lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.08.

About SoFi Technologies

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.