SeaCrest Wealth Management LLC Boosts Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

SeaCrest Wealth Management LLC increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 28,892 shares of the company’s stock after acquiring an additional 2,400 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in SoFi Technologies were worth $445,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Victory Capital Management Inc. raised its position in SoFi Technologies by 6.9% in the second quarter. Victory Capital Management Inc. now owns 127,342 shares of the company’s stock valued at $842,000 after purchasing an additional 8,267 shares during the period. Choreo LLC purchased a new stake in SoFi Technologies in the 2nd quarter valued at about $101,000. Dimensional Fund Advisors LP lifted its position in SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Edgestream Partners L.P. purchased a new position in SoFi Technologies during the second quarter worth about $1,720,000. Finally, Mercer Global Advisors Inc. ADV boosted its stake in SoFi Technologies by 7.1% during the second quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company’s stock worth $465,000 after buying an additional 4,661 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOFI. Jefferies Financial Group upped their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Bank of America restated an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Keefe, Bruyette & Woods reaffirmed 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 increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Finally, Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.71.

SoFi Technologies Price Performance

Shares of SOFI opened at $16.30 on Friday. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 163.02, a PEG ratio of 0.96 and a beta of 1.78. The firm’s fifty day simple moving average is $15.16 and its 200-day simple moving average is $10.52. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $17.19. 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 (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned ($0.03) earnings per share. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. 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.