Beacon Pointe Advisors LLC Acquires 26,734 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Beacon Pointe Advisors LLC grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 18.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 173,874 shares of the company's stock after acquiring an additional 26,734 shares during the period. Beacon Pointe Advisors LLC's holdings in SoFi Technologies were worth $2,678,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. CIBC Private Wealth Group LLC grew its holdings in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after purchasing an additional 685 shares during the last quarter. Procyon Advisors LLC grew its stake in SoFi Technologies by 8.0% in the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after buying an additional 1,000 shares during the last quarter. Game Plan Financial Advisors LLC raised its holdings in SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after acquiring an additional 1,000 shares during the period. Nomura Asset Management Co. Ltd. lifted its position in SoFi Technologies by 33.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock worth $68,000 after acquiring an additional 1,100 shares during the last quarter. Finally, World Investment Advisors LLC boosted its holdings in SoFi Technologies by 6.5% during the third quarter. World Investment Advisors LLC now owns 21,745 shares of the company's stock valued at $171,000 after acquiring an additional 1,336 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on 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 approximately $2,617,329.18. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock worth $1,271,115 in the last quarter. 2.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods restated an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. JMP Securities began coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a report on Wednesday. Finally, Barclays raised their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $14.38.

SoFi Technologies Stock Down 5.7 %

NASDAQ SOFI opened at $12.51 on Thursday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a market capitalization of $13.72 billion, a price-to-earnings ratio of 33.81, a PEG ratio of 2.24 and a beta of 1.86. The stock's 50 day moving average is $12.05 and its two-hundred day moving average is $13.70. 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 - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. SoFi Technologies's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share 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.

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