Exchange Traded Concepts LLC Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Exchange Traded Concepts LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 175,685 shares of the company’s stock, valued at approximately $2,706,000.

A number of other hedge funds have also bought and sold shares of SOFI. Captrust Financial Advisors boosted its position in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares during the period. Summit Trail Advisors LLC boosted its holdings in SoFi Technologies by 0.3% in the 3rd 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 period. CIBC Asset Management Inc increased its stake in SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $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 acquiring an additional 1,000 shares during the period. 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 valued at $208,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This trade represents a 4.53 % 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, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction dated 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 owns 482,083 shares in the company, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock valued at $416,950,073 over the last 90 days. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on SOFI. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Citigroup boosted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $17.92 on Friday. The company has a market cap of $19.45 billion, a P/E ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78. The business’s 50 day moving average price is $15.71 and its 200-day moving average price is $11.05. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last announced its 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 net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

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.