61,492 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Bought by Headlands Technologies LLC

Headlands Technologies LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 61,492 shares of the company’s stock, valued at approximately $612,000.

Several other institutional investors and hedge funds have also modified their holdings of SOFI. GAMMA Investing LLC bought a new position in SoFi Technologies in the fourth quarter valued at about $27,000. Westside Investment Management Inc. raised its position in SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the last quarter. CNB Bank bought a new position in SoFi Technologies in the fourth quarter valued at about $50,000. Fortitude Family Office LLC bought a new position in SoFi Technologies in the fourth quarter valued at about $60,000. Finally, Private Trust Co. NA raised its position in SoFi Technologies by 1,093.8% in the fourth quarter. Private Trust Co. NA now owns 7,640 shares of the company’s stock valued at $76,000 after purchasing an additional 7,000 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on SoFi Technologies in a research report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price objective for the company. Jefferies Financial Group lowered their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Morgan Stanley restated an “underweight” rating and set a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Citigroup began coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Wedbush reaffirmed an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Wednesday, March 6th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $9.08.

SoFi Technologies Stock Up 3.7 %

SoFi Technologies stock traded up $0.28 during mid-day trading on Friday, reaching $7.87. The stock had a trading volume of 88,630,965 shares, compared to its average volume of 37,067,720. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The stock’s 50-day simple moving average is $7.64 and its 200-day simple moving average is $7.90. The firm has a market capitalization of $7.69 billion, a PE ratio of -20.71 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. SoFi Technologies’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.05) earnings per share. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

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.