Catalyst Funds Management Pty Ltd Purchases New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Catalyst Funds Management Pty Ltd acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 18,300 shares of the company’s stock, valued at approximately $282,000.

A number of other large investors also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC lifted its holdings in SoFi Technologies by 26.1% in the third quarter. Janney Montgomery Scott LLC now owns 135,063 shares of the company’s stock valued at $1,062,000 after buying an additional 27,958 shares during the period. Harbour Investments Inc. lifted its stake in shares of SoFi Technologies by 5.0% in the 3rd quarter. Harbour Investments Inc. now owns 62,099 shares of the company’s stock valued at $488,000 after purchasing an additional 2,985 shares during the period. Victory Capital Management Inc. boosted its position in shares of SoFi Technologies by 1.0% in the 3rd quarter. Victory Capital Management Inc. now owns 128,661 shares of the company’s stock worth $1,011,000 after purchasing an additional 1,319 shares during the last quarter. Huntington National Bank grew its stake in shares of SoFi Technologies by 442.0% during the third quarter. Huntington National Bank now owns 8,856 shares of the company’s stock worth $70,000 after purchasing an additional 7,222 shares during the period. Finally, Oak Harbor Wealth Partners LLC increased its holdings in SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average price of $16.34 per share, with a total value of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This trade represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 92,004 shares of company stock worth $1,459,060. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Up 6.1 %

NASDAQ:SOFI opened at $12.09 on Friday. The company has a market cap of $13.26 billion, a P/E ratio of 32.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The business has a 50 day moving average price of $14.89 and a two-hundred day moving average price of $12.85. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share 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 company earned $0.04 earnings per share. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.