SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by Lauer Wealth LLC

Lauer Wealth LLC lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 78,677 shares of the company’s stock after purchasing an additional 7,874 shares during the quarter. SoFi Technologies comprises 0.5% of Lauer Wealth LLC’s investment portfolio, making the stock its 20th biggest position. Lauer Wealth LLC’s holdings in SoFi Technologies were worth $618,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Stratos Wealth Advisors LLC raised its stake in shares of 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 during the period. NBC Securities Inc. grew its holdings in shares of SoFi Technologies by 12.7% in the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after purchasing an additional 1,081 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the period. Pegasus Asset Management Inc. grew its stake in SoFi Technologies by 1.4% during the 3rd quarter. Pegasus Asset Management Inc. now owns 112,951 shares of the company’s stock worth $888,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Kennedy Investment Group raised its holdings in SoFi Technologies by 1.6% in 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. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Trading Up 2.5 %

Shares of NASDAQ:SOFI traded up $0.28 during midday trading on Monday, reaching $11.27. The company’s stock had a trading volume of 18,937,600 shares, compared to its average volume of 45,862,246. The business has a 50 day moving average price of $8.31 and a 200 day moving average price of $7.43. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $11.34. The firm has a market cap of $11.91 billion, a price-to-earnings ratio of -36.42, a price-to-earnings-growth ratio of 2.08 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

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

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred 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 transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SOFI has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. 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 research note on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their target price 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, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $9.25.

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.