Summit Trail Advisors LLC Purchases 16,124 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Summit Trail Advisors LLC lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 243,069 shares of the company’s stock after purchasing an additional 16,124 shares during the quarter. Summit Trail Advisors LLC’s holdings in SoFi Technologies were worth $2,419,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SOFI. GAMMA Investing LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at $27,000. Westside Investment Management Inc. grew its stake in shares of SoFi Technologies by 93.8% during the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the last quarter. CNB Bank bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $50,000. Orion Capital Management LLC grew its stake in shares of SoFi Technologies by 66.7% in the fourth quarter. Orion Capital Management LLC now owns 5,000 shares of the company’s stock worth $50,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Fortitude Family Office LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $60,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the topic of several recent analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. Morgan Stanley restated an “underweight” rating and issued a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Finally, Jefferies Financial Group lowered their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. 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 company. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus target price of $9.08.

Insider Buying and Selling

In other news, CEO Anthony Noto bought 28,775 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $6.90 per share, with a total value of $198,547.50. Following the acquisition, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average price of $6.90 per share, with a total value of $198,547.50. Following the acquisition, the chief executive officer now owns 8,033,369 shares in the company, valued at $55,430,246.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Trading Up 0.3 %

SOFI traded up $0.02 during mid-day trading on Tuesday, reaching $7.18. 8,007,087 shares of the company traded hands, compared to its average volume of 53,758,680. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The company’s fifty day moving average price is $7.51 and its 200-day moving average price is $7.85. SoFi Technologies, Inc. has a 52-week low of $4.45 and a 52-week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

SoFi Technologies 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.