River Street Advisors LLC Buys 10,223 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

River Street Advisors LLC lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 21.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 57,369 shares of the company’s stock after acquiring an additional 10,223 shares during the period. River Street Advisors LLC’s holdings in SoFi Technologies were worth $451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC raised its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the 3rd quarter worth $39,000. GAMMA Investing LLC raised its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the period. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies in the 3rd quarter worth $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

Shares of SOFI traded up $0.23 during mid-day trading on Friday, hitting $13.63. The stock had a trading volume of 48,186,516 shares, compared to its average volume of 47,592,203. The company has a market cap of $14.53 billion, a PE ratio of 136.30, a PEG ratio of 2.25 and a beta of 1.60. The company’s fifty day simple moving average is $9.70 and its two-hundred day simple moving average is $7.93. The company has a quick ratio of 0.21, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $14.44.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same period in the previous year, the firm earned ($0.03) earnings per share. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group lifted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $9.32.

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.