Warm Springs Advisors Inc. Invests $2.46 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

Warm Springs Advisors Inc. purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 160,000 shares of the company's stock, valued at approximately $2,464,000. SoFi Technologies makes up about 2.3% of Warm Springs Advisors Inc.'s investment portfolio, making the stock its 12th largest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ purchased a new position in SoFi Technologies in the 4th quarter worth $27,000. Hollencrest Capital Management acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $32,000. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies in the fourth quarter worth about $38,000. Finally, Elequin Capital LP lifted its holdings in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after purchasing an additional 631 shares during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the completion of the transaction, the executive vice president now owns 215,029 shares of the company's stock, valued at $2,302,960.59. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The shares were 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 in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,507 shares of company stock valued at $1,283,528. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

Shares of SOFI stock traded down $0.10 during trading hours on Wednesday, reaching $13.30. The company had a trading volume of 32,706,763 shares, compared to its average volume of 48,030,222. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month 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. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 35.85, a PEG ratio of 2.24 and a beta of 1.84. The stock has a fifty day moving average of $12.22 and a 200-day moving average of $14.03.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same quarter in the previous year, the company posted $0.02 earnings per share. The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. The Goldman Sachs Group upped their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. UBS Group upped their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Barclays increased their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three investment 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. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $14.38.

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.