West Michigan Advisors LLC Takes $284,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

West Michigan Advisors LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 18,438 shares of the company’s stock, valued at approximately $284,000.

A number of other institutional investors and hedge funds also recently modified their holdings of SOFI. Captrust Financial Advisors lifted its position in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares in the last quarter. Summit Trail Advisors LLC increased its position in SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after buying an additional 855 shares during the last quarter. CIBC Asset Management Inc raised its holdings in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after buying an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC raised its holdings in SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares in the last quarter. Finally, Procyon Advisors LLC lifted its position in shares of SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after buying an additional 1,000 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $14.47 on Friday. The firm has a market capitalization of $15.70 billion, a PE ratio of 39.11, a PEG ratio of 2.24 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The business’s 50 day moving average is $15.54 and its 200-day moving average is $12.50.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates 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 earned $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Morgan Stanley lifted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, Bank of America reissued an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.50.

Insider Activity

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares in the company, valued at $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,008,465 shares of company stock worth $416,952,167. Corporate insiders own 2.60% of the company’s stock.

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.