12,751 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Purchased by C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, Holdings Channel reports. The institutional investor bought 12,751 shares of the company’s stock, valued at approximately $196,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after acquiring an additional 310,532 shares during the last quarter. Geode Capital Management LLC grew its holdings in SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Azora Capital LP boosted its stake in shares of SoFi Technologies by 8.8% in the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock valued at $34,176,000 after purchasing an additional 352,901 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $16.21 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $17.59 billion, a P/E ratio of 43.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company’s 50 day moving average price is $15.69 and its two-hundred day moving average price is $11.88. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the company posted $0.04 EPS. On average, analysts expect that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the topic of several recent research reports. UBS Group raised their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

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.