SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Kennedy Investment Group

Kennedy Investment Group boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 118,000 shares of the company’s stock after purchasing an additional 1,900 shares during the period. Kennedy Investment Group’s holdings in SoFi Technologies were worth $927,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. ORG Partners LLC purchased a new stake in shares of SoFi Technologies during the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased 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 valued at $29,000 after buying an additional 1,543 shares during the period. GAMMA Investing LLC raised its position in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth $37,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies in the third quarter valued at about $47,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

SOFI stock traded up $0.25 during midday trading on Monday, hitting $10.43. 23,744,898 shares of the stock were exchanged, compared to its average volume of 45,796,672. 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 stock has a market cap of $11.03 billion, a price-to-earnings ratio of -33.10, a PEG ratio of 1.72 and a beta of 1.70. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $10.54. The stock’s 50-day moving average price is $7.92 and its 200-day moving average price is $7.32.

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

Wall Street Analysts Forecast Growth

SOFI has been the subject of several analyst reports. Keefe, Bruyette & Woods cut their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $9.25.

Insider Activity

In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies 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 $1,290,472.89. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction dated 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 sale, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,328 shares of company stock worth $808,246 over the last ninety days. 2.60% of the stock is currently owned by insiders.

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.