GAMMA Investing LLC Takes $27,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

GAMMA Investing LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,728 shares of the company’s stock, valued at approximately $27,000.

Other hedge funds have also modified their holdings of the company. Westside Investment Management Inc. increased its stake in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares in the last quarter. CNB Bank purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $50,000. Fortitude Family Office LLC purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $60,000. NBC Securities Inc. purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $61,000. Finally, Clear Street Markets LLC purchased a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $69,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SOFI. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Jefferies Financial Group lowered their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 target price for the company. Finally, Mizuho lowered their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $7.16 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $6.99 billion, a price-to-earnings ratio of -23.03 and a beta of 1.75. The firm’s fifty day simple moving average is $7.51 and its 200 day simple moving average is $7.85. 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 earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The business’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.05) EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Anthony Noto acquired 28,775 shares of the firm’s stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $6.90 per share, with a total value of $198,547.50. Following the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s 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 directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Profile

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.