Kovack Advisors Inc. Increases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kovack Advisors Inc. boosted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 17.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 117,813 shares of the company’s stock after purchasing an additional 17,256 shares during the quarter. Kovack Advisors Inc.’s holdings in SoFi Technologies were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of SOFI. AE Wealth Management LLC raised its stake in SoFi Technologies by 21.5% in the third quarter. AE Wealth Management LLC now owns 111,637 shares of the company’s stock valued at $892,000 after purchasing an additional 19,766 shares in the last quarter. SG Americas Securities LLC grew its position in SoFi Technologies by 23.5% during the third quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock valued at $275,000 after acquiring an additional 6,548 shares during the last quarter. Exchange Traded Concepts LLC grew its position in SoFi Technologies by 202.3% during the third quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock valued at $120,000 after acquiring an additional 10,013 shares during the last quarter. Strategic Blueprint LLC bought a new position in SoFi Technologies during the third quarter valued at approximately $82,000. Finally, Hennessy Advisors Inc. bought a new position in SoFi Technologies during the third quarter valued at approximately $559,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price target for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Morgan Stanley restated an “underweight” rating and issued a $6.50 target price (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Jefferies Financial Group cut their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Needham & Company LLC initiated coverage on shares of SoFi Technologies in a report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 target price on the stock. Finally, Mizuho cut their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.08.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Stock Up 3.7 %

Shares of SOFI traded up $0.28 during trading hours on Friday, hitting $7.87. The company had a trading volume of 88,630,965 shares, compared to its average volume of 37,067,720. SoFi Technologies, Inc. has a 52-week low of $4.45 and a 52-week high of $11.70. The firm has a fifty day moving average price of $7.64 and a 200-day moving average price of $7.90. The stock has a market capitalization of $7.69 billion, a price-to-earnings ratio of -20.71 and a beta of 1.75. 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 (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 29th. The company reported $0.02 EPS for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. During the same period last year, the company earned ($0.05) EPS. SoFi Technologies’s revenue for the quarter was up 34.7% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

SoFi Technologies Company Profile

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.