Perennial Investment Advisors LLC Has $594,000 Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Perennial Investment Advisors LLC raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,926 shares of the company’s stock after acquiring an additional 7,866 shares during the quarter. Perennial Investment Advisors LLC’s holdings in SoFi Technologies were worth $594,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in SoFi Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after buying an additional 1,366,271 shares during the period. Dimensional Fund Advisors LP grew its stake in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in SoFi Technologies by 6.4% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after purchasing an additional 690,638 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake 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 purchasing an additional 6,870,610 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of SoFi Technologies during the 4th quarter worth about $71,349,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Up 0.7 %

SoFi Technologies stock opened at $8.12 on Wednesday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The firm has a market capitalization of $8.58 billion, a PE ratio of -26.19, a PEG ratio of 1.48 and a beta of 1.70. The business’s 50-day simple moving average is $7.26 and its 200-day simple moving average is $7.14.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same period in the previous year, the business posted ($0.06) EPS. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. BTIG Research began coverage on SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods cut their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, Barclays decreased their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.14.

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.