Pathway Financial Advisers LLC Buys New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

Pathway Financial Advisers LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 43,256 shares of the company’s stock, valued at approximately $316,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after purchasing an additional 1,366,271 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after purchasing an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. increased its holdings in shares of SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after acquiring an additional 6,870,610 shares during the last quarter. Norges Bank acquired a new stake in SoFi Technologies during the 4th quarter valued at $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SoFi Technologies by 3.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock valued at $54,659,000 after purchasing an additional 199,949 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SOFI. Barclays dropped their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Citigroup began coverage on SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Wedbush reissued an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. BTIG Research started coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $9.20.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded down $0.51 during trading on Friday, reaching $6.65. 63,300,907 shares of the stock were exchanged, compared to its average volume of 45,505,468. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. SoFi Technologies, Inc. has a 1-year low of $6.15 and a 1-year high of $10.49. The stock has a fifty day moving average of $6.88 and a two-hundred day moving average of $7.35.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The business had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. During the same quarter in the prior year, the company posted ($0.06) earnings per share. SoFi Technologies’s revenue was up 20.2% compared to the same quarter last year. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto purchased 30,715 shares of the business’s stock in a transaction dated Friday, June 14th. The stock was bought at an average price of $6.48 per share, for a total transaction of $199,033.20. Following the purchase, the chief executive officer now owns 8,121,844 shares of the company’s stock, valued at $52,629,549.12. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Noto acquired 30,715 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were bought at an average cost of $6.48 per share, for a total transaction of $199,033.20. Following the acquisition, the chief executive officer now directly owns 8,121,844 shares in the company, valued at approximately $52,629,549.12. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Company 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.