Balboa Wealth Partners Has $277,000 Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Balboa Wealth Partners lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 72.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 17,997 shares of the company’s stock after purchasing an additional 7,547 shares during the period. Balboa Wealth Partners’ holdings in SoFi Technologies were worth $277,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SOFI. SBI Securities Co. Ltd. bought a new position in SoFi Technologies in the 4th quarter valued at $3,703,000. Hanseatic Management Services Inc. bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,116,000. Kercheville Advisors LLC bought a new position in SoFi Technologies in the 4th quarter worth about $1,594,000. Charles Schwab Investment Management Inc. grew its position in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Finally, Zacks Investment Management bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $3,766,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling

In other SoFi Technologies news, 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 value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 92,004 shares of company stock valued at $1,459,060. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 4.4 %

NASDAQ:SOFI opened at $11.39 on Friday. The stock’s fifty day moving average is $14.94 and its two-hundred day moving average is $12.78. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $12.49 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating 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 period in the prior year, the business posted $0.04 EPS. Research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOFI. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. UBS Group lifted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Finally, Bank of America restated an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Company 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.