Cetera Investment Advisers Grows Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Key Points

• Cetera Investment Advisers increased its stake in SoFi Technologies, owning 538,257 shares valued at approximately $6.26 million, reflecting a 3.5% growth in their holdings.
• Several institutional investors, including Two Sigma Advisers and Northern Trust Corp, have made significant changes to their positions, with hedge funds and institutional investors owning 38.43% of SoFi's stock.
• SoFi Technologies' stock recently experienced a 6.0% decline, with a current trading price of $21.23, amidst mixed analyst ratings and a consensus price target of $18.06.

Cetera Investment Advisers grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 3.5% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 538,257 shares of the company's stock after buying an additional 18,213 shares during the period. Cetera Investment Advisers' holdings in SoFi Technologies were worth $6,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Two Sigma Advisers LP bought a new position in SoFi Technologies during the fourth quarter valued at $299,980,000. Geode Capital Management LLC increased its position in SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after acquiring an additional 315,899 shares during the last quarter. Northern Trust Corp increased its position in SoFi Technologies by 22.7% during the fourth quarter. Northern Trust Corp now owns 6,052,301 shares of the company's stock valued at $93,205,000 after acquiring an additional 1,121,550 shares during the last quarter. Voloridge Investment Management LLC bought a new position in SoFi Technologies during the fourth quarter valued at $75,139,000. Finally, Azora Capital LP increased its position in SoFi Technologies by 1.6% during the fourth quarter. Azora Capital LP now owns 4,419,345 shares of the company's stock valued at $68,058,000 after acquiring an additional 71,277 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

SoFi Technologies Stock Down 6.0%

NASDAQ:SOFI opened at $21.23 on Friday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $25.11. The company has a 50-day moving average of $17.59 and a 200 day moving average of $14.87. The firm has a market cap of $23.47 billion, a PE ratio of 44.23, a price-to-earnings-growth ratio of 2.68 and a beta of 1.92. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14.

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 analysts' consensus estimates of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.51%. The firm's revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SOFI. Stephens began coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. The Goldman Sachs Group began coverage on shares of SoFi Technologies in a research note on Monday, July 14th. They set a "neutral" rating and a $19.00 target price for the company. Morgan Stanley reissued an "underweight" rating and set a $13.00 target price (up from $11.00) on shares of SoFi Technologies in a research note on Wednesday. TD Cowen began coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 target price for the company. Finally, Mizuho set a $26.00 target price on shares of SoFi Technologies and gave the company an "outperform" rating in a research note on Thursday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $18.06.

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.

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