Harbor Investment Advisory LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 23,612 shares of the company's stock, valued at approximately $124,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WASHINGTON TRUST Co bought a new position in shares of SoFi Technologies in the first quarter worth approximately $26,000. US Bancorp DE lifted its stake in shares of SoFi Technologies by 197.0% in the first quarter. US Bancorp DE now owns 3,015 shares of the company's stock worth $28,000 after buying an additional 2,000 shares in the last quarter. Herold Advisors Inc. bought a new position in shares of SoFi Technologies in the first quarter worth approximately $29,000. SOA Wealth Advisors LLC. lifted its stake in shares of SoFi Technologies by 113.3% in the first quarter. SOA Wealth Advisors LLC. now owns 3,200 shares of the company's stock worth $30,000 after buying an additional 1,700 shares in the last quarter. Finally, SRS Capital Advisors Inc. lifted its stake in shares of SoFi Technologies by 1,372.5% in the first quarter. SRS Capital Advisors Inc. now owns 3,269 shares of the company's stock worth $31,000 after buying an additional 3,047 shares in the last quarter. Hedge funds and other institutional investors own 38.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SOFI shares. Piper Sandler dropped their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 29th. Morgan Stanley increased their price objective on shares of SoFi Technologies from $7.00 to $7.50 and gave the company an "equal weight" rating in a research report on Thursday, August 25th. Seaport Res Ptn restated a "neutral" rating on shares of SoFi Technologies in a research report on Friday, September 9th. Bank Of America (Bofa) upgraded shares of SoFi Technologies from a "neutral" rating to a "buy" rating and increased their price objective for the company from $8.00 to $9.00 in a research report on Wednesday, September 14th. Finally, Credit Suisse Group increased their price objective on shares of SoFi Technologies from $8.00 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, August 3rd. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $13.36.

Insider Transactions at SoFi Technologies

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $5.08 on Wednesday. The firm has a fifty day moving average price of $6.46 and a 200-day moving average price of $6.85. The company has a debt-to-equity ratio of 0.72, a current ratio of 2.83 and a quick ratio of 2.83. The stock has a market cap of $4.65 billion, a PE ratio of -11.04 and a beta of 1.53. SoFi Technologies, Inc. has a 1 year low of $4.82 and a 1 year high of $24.65.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.12). The firm had revenue of $362.53 million during the quarter, compared to analysts' expectations of $346.39 million. SoFi Technologies had a negative net margin of 27.19% and a negative return on equity of 7.30%. Equities analysts anticipate that SoFi Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.

About SoFi Technologies

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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