Orion Portfolio Solutions LLC boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 13.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,821 shares of the company's stock after purchasing an additional 2,850 shares during the period. Orion Portfolio Solutions LLC's holdings in SoFi Technologies were worth $131,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SOFI. Riverwood Capital Management Ltd. purchased a new position in SoFi Technologies during the first quarter valued at approximately $207,873,000. State Street Corp grew its position in SoFi Technologies by 222.0% in the fourth quarter. State Street Corp now owns 5,929,036 shares of the company's stock worth $93,738,000 after acquiring an additional 4,087,917 shares in the last quarter. Banco BTG Pactual S.A. bought a new stake in SoFi Technologies in the first quarter worth approximately $18,467,000. Mirae Asset Global Investments Co. Ltd. grew its position in SoFi Technologies by 2,626.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440,932 shares of the company's stock worth $13,616,000 after acquiring an additional 1,388,088 shares in the last quarter. Finally, Ensign Peak Advisors Inc grew its position in SoFi Technologies by 1,528.8% in the first quarter. Ensign Peak Advisors Inc now owns 1,163,386 shares of the company's stock worth $10,994,000 after acquiring an additional 1,091,961 shares in the last quarter. 38.19% of the stock is owned by hedge funds and other institutional investors.
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Wall Street Analyst Weigh In
Several research firms have commented on SOFI. Bank Of America (Bofa) raised shares of SoFi Technologies from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $8.00 to $9.00 in a research report on Wednesday, September 14th. Bank of America upgraded shares of SoFi Technologies from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, September 14th. Seaport Res Ptn restated a "neutral" rating on shares of SoFi Technologies in a research note on Friday, September 9th. Credit Suisse Group boosted their price objective on shares of SoFi Technologies from $8.00 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, August 3rd. Finally, Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.00 to $7.50 and gave the stock an "equal weight" rating in a research note on Thursday, August 25th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $13.36.
SoFi Technologies Stock Performance
Shares of SOFI stock opened at $5.08 on Wednesday. SoFi Technologies, Inc. has a 52-week low of $4.82 and a 52-week high of $24.65. The stock has a market cap of $4.65 billion, a price-to-earnings ratio of -11.04 and a beta of 1.53. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.83 and a current ratio of 2.83. The firm has a fifty day moving average of $6.46 and a 200-day moving average of $6.85.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.12) earnings per share for the quarter, hitting the consensus estimate of ($0.12). SoFi Technologies had a negative net margin of 27.19% and a negative return on equity of 7.30%. The business had revenue of $362.53 million for the quarter, compared to analyst estimates of $346.39 million. On average, equities research analysts forecast that SoFi Technologies, Inc. will post -0.45 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other SoFi Technologies news, major shareholder Group Corp Softbank sold 5,381,785 shares of the stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $7.99, for a total transaction of $43,000,462.15. Following the sale, the insider now owns 89,900,110 shares of the company's stock, valued at approximately $718,301,878.90. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 13.00% of the company's stock.
SoFi Technologies Profile
(Get Rating)
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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