Pegasus Asset Management Inc. Purchases 1,607 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Pegasus Asset Management Inc. raised its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.4% in the third quarter, Holdings Channel reports. The fund owned 112,951 shares of the company’s stock after purchasing an additional 1,607 shares during the quarter. Pegasus Asset Management Inc.’s holdings in SoFi Technologies were worth $888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Stratos Wealth Advisors LLC lifted its position in SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after acquiring an additional 1,054 shares in the last quarter. NBC Securities Inc. grew its stake in SoFi Technologies by 12.7% in the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after buying an additional 1,081 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the period. Kennedy Investment Group grew its stake in SoFi Technologies by 1.6% during the third quarter. Kennedy Investment Group now owns 118,000 shares of the company’s stock valued at $927,000 after acquiring an additional 1,900 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.10 during midday trading on Tuesday, reaching $10.50. The stock had a trading volume of 23,382,482 shares, compared to its average volume of 45,770,301. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of -33.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $10.58. The stock has a 50-day moving average of $7.99 and a 200-day moving average of $7.35. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88.

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SOFI. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday. Barclays reduced their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.25.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 102,328 shares of company stock valued at $808,246. Corporate insiders own 2.60% of the company’s stock.

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.