CacheTech Inc. Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Key Points

• CacheTech Inc. acquired 17,333 shares of SoFi Technologies, Inc., valued at approximately $201,000, during the first quarter, as reported in the company's Form 13F filing.
• SoFi Technologies reported $0.08 EPS for the quarter, exceeding the consensus estimate, with revenues of $519.37 million, but falling short of the expected $801.94 million.
• Wall Street analysts show a mix of ratings for SoFi Technologies, with an average target price of $18.29, while 11 analysts rated it as a hold and others have varying buy and sell ratings.

CacheTech Inc. acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,333 shares of the company's stock, valued at approximately $201,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Elequin Capital LP boosted its stake in SoFi Technologies by 30.1% in 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 in the last quarter. Bank of New Hampshire increased its position in SoFi Technologies by 33.3% in the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after purchasing an additional 1,000 shares during the period. Arkadios Wealth Advisors lifted its position in SoFi Technologies by 1.8% during the 1st quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock valued at $737,000 after purchasing an additional 1,092 shares during the period. Signaturefd LLC boosted its stake in shares of SoFi Technologies by 6.2% in the 1st quarter. Signaturefd LLC now owns 21,476 shares of the company's stock valued at $250,000 after purchasing an additional 1,246 shares during the last quarter. Finally, Trivium Point Advisory LLC grew its position in shares of SoFi Technologies by 12.1% during the 1st quarter. Trivium Point Advisory LLC now owns 11,653 shares of the company's stock worth $136,000 after buying an additional 1,255 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Trading Up 2.1%

Shares of SOFI stock opened at $23.77 on Friday. The firm has a market capitalization of $26.27 billion, a P/E ratio of 49.52, a P/E/G ratio of 2.94 and a beta of 1.93. SoFi Technologies, Inc. has a twelve month low of $6.75 and a twelve month high of $25.11. The stock's fifty day simple moving average is $19.41 and its 200 day simple moving average is $15.26. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%. The business's quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Keefe, Bruyette & Woods increased their price objective on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a report on Tuesday, August 5th. JMP Securities reissued a "market perform" rating and issued a $17.00 target price on shares of SoFi Technologies in a research note on Monday, July 14th. Stephens began coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price on the stock. Mizuho set a $26.00 target price on SoFi Technologies and gave the company an "outperform" rating in a research note on Thursday, July 31st. Finally, UBS Group increased their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $18.29.

Insider Activity

In related news, EVP Kelli Keough sold 11,520 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer directly owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 273,181 shares of company stock valued at $4,043,240 in the last ninety days. 2.60% of the stock is owned by company insiders.

About SoFi Technologies

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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