Good Life Advisors LLC Has $433,000 Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Good Life Advisors LLC boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 204.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 51,966 shares of the company’s stock after purchasing an additional 34,903 shares during the quarter. Good Life Advisors LLC’s holdings in SoFi Technologies were worth $433,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Retireful LLC bought a new stake in shares of SoFi Technologies in the second quarter worth about $2,001,000. Level Four Advisory Services LLC acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at approximately $91,000. ARK Investment Management LLC bought a new stake in SoFi Technologies during the 2nd quarter worth approximately $2,350,000. AE Wealth Management LLC raised its holdings in SoFi Technologies by 82.5% during the 2nd quarter. AE Wealth Management LLC now owns 91,871 shares of the company’s stock worth $766,000 after buying an additional 41,536 shares during the period. Finally, Moseley Investment Management Inc. bought a new position in SoFi Technologies in the second quarter valued at approximately $217,000. Institutional investors own 37.13% of the company’s stock.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of research analyst reports. Compass Point began coverage on shares of SoFi Technologies in a report on Thursday, June 22nd. They set a “sell” rating and a $5.00 price objective on the stock. Keefe, Bruyette & Woods lowered SoFi Technologies from a “market perform” rating to an “underperform” rating and boosted their price target for the company from $5.50 to $7.00 in a report on Tuesday, August 1st. Stephens initiated coverage on SoFi Technologies in a report on Monday, July 24th. They set an “equal weight” rating and a $7.00 price objective for the company. Bank of America boosted their target price on SoFi Technologies from $10.00 to $11.50 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Finally, Morgan Stanley cut shares of SoFi Technologies from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $6.50 to $7.00 in a research note on Thursday, July 13th. Four research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $9.17.

Insider Activity

In related news, CTO Jeremy Rishel sold 53,532 shares of SoFi Technologies stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $8.88, for a total transaction of $475,364.16. Following the completion of the sale, the chief technology officer now owns 160,597 shares of the company’s stock, valued at approximately $1,426,101.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.70% of the company’s stock.

SoFi Technologies Trading Down 4.4 %

SoFi Technologies stock opened at $8.67 on Tuesday. The stock has a 50-day simple moving average of $9.01 and a 200 day simple moving average of $7.37. The stock has a market capitalization of $8.24 billion, a P/E ratio of -34.68 and a beta of 1.88. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.29 and a current ratio of 1.65. SoFi Technologies, Inc. has a 52 week low of $4.24 and a 52 week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, July 31st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. SoFi Technologies had a negative return on equity of 3.76% and a negative net margin of 10.38%. The company had revenue of $488.80 million during the quarter, compared to the consensus estimate of $473.94 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. Analysts expect that SoFi Technologies, Inc. will post -0.2 earnings per share for the current year.

SoFi Technologies Profile

SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.