SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Parkside Investments LLC

Parkside Investments LLC boosted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 18.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 831,430 shares of the company’s stock after acquiring an additional 130,280 shares during the period. Parkside Investments LLC owned 0.09% of SoFi Technologies worth $3,833,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in SOFI. Fairfield Bush & CO. increased its position in SoFi Technologies by 41.6% during the 1st quarter. Fairfield Bush & CO. now owns 16,000 shares of the company’s stock worth $151,000 after purchasing an additional 4,700 shares during the period. Bank of New York Mellon Corp increased its position in SoFi Technologies by 1.8% during the 1st quarter. Bank of New York Mellon Corp now owns 1,266,962 shares of the company’s stock worth $11,973,000 after purchasing an additional 22,288 shares during the period. US Bancorp DE increased its position in SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $435,000. Finally, Cibc World Market Inc. grew its holdings in shares of SoFi Technologies by 4.7% in the 1st quarter. Cibc World Market Inc. now owns 54,765 shares of the company’s stock worth $518,000 after acquiring an additional 2,454 shares during the period. Institutional investors and hedge funds own 34.32% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SOFI shares. JPMorgan Chase & Co. started coverage on SoFi Technologies in a report on Tuesday, January 17th. They issued a “neutral” rating and a $6.00 price target on the stock. Piper Sandler lowered their price target on SoFi Technologies from $8.50 to $7.50 and set an “overweight” rating on the stock in a report on Thursday, December 15th. Wedbush upped their target price on SoFi Technologies from $6.00 to $8.00 in a research note on Monday, January 30th. Credit Suisse Group reduced their target price on SoFi Technologies from $8.00 to $7.50 and set a “neutral” rating on the stock in a research note on Tuesday, January 31st. Finally, Morgan Stanley upped their target price on SoFi Technologies from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Five research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $8.42.

Insider Buying and Selling

In related news, CEO Anthony Noto purchased 180,000 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average cost of $5.53 per share, for a total transaction of $995,400.00. Following the acquisition, the chief executive officer now owns 5,984,110 shares in the company, valued at $33,092,128.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Anthony Noto purchased 180,000 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average cost of $5.53 per share, for a total transaction of $995,400.00. Following the acquisition, the chief executive officer now owns 5,984,110 shares in the company, valued at $33,092,128.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 81,000 shares of the stock in a transaction on Wednesday, March 8th. The shares were sold at an average price of $6.46, for a total value of $523,260.00. Following the completion of the sale, the chief technology officer now owns 161,944 shares of the company’s stock, valued at $1,046,158.24. The disclosure for this sale can be found here. Corporate insiders own 13.00% of the company’s stock.

SoFi Technologies Stock Up 0.2 %

Shares of SOFI opened at $5.46 on Friday. The company has a quick ratio of 0.27, a current ratio of 2.00 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $6.25 and its 200 day simple moving average is $5.52. SoFi Technologies, Inc. has a twelve month low of $4.24 and a twelve month high of $10.57.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last issued its earnings results on Monday, January 30th. The company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.09) by $0.04. The business had revenue of $443.40 million for the quarter, compared to analyst estimates of $425.84 million. SoFi Technologies had a negative return on equity of 6.17% and a negative net margin of 19.53%. The business’s quarterly revenue was up 58.4% on a year-over-year basis. During the same period last year, the company posted ($0.15) EPS. Equities research analysts expect that SoFi Technologies, Inc. will post -0.21 earnings per share for the current year.

SoFi Technologies Company 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.