GAMMA Investing LLC Acquires 90,406 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

GAMMA Investing LLC grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1,525.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,331 shares of the company's stock after purchasing an additional 90,406 shares during the period. GAMMA Investing LLC's holdings in SoFi Technologies were worth $1,120,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its position in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after buying an additional 14,281 shares during the last quarter. Yousif Capital Management LLC grew its stake in shares of SoFi Technologies by 13.7% in the fourth quarter. Yousif Capital Management LLC now owns 12,436 shares of the company's stock worth $192,000 after acquiring an additional 1,496 shares during the period. Savant Capital LLC grew its stake in shares of SoFi Technologies by 4.0% in the fourth quarter. Savant Capital LLC now owns 42,392 shares of the company's stock worth $653,000 after acquiring an additional 1,614 shares during the period. Rhumbline Advisers raised its holdings in shares of SoFi Technologies by 3.8% during the fourth quarter. Rhumbline Advisers now owns 1,033,602 shares of the company's stock valued at $15,917,000 after purchasing an additional 37,892 shares during the last quarter. Finally, Allworth Financial LP lifted its position in SoFi Technologies by 494.3% during the fourth quarter. Allworth Financial LP now owns 90,256 shares of the company's stock valued at $1,390,000 after purchasing an additional 75,069 shares during the period. Institutional investors own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 11,520 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were 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 now owns 203,509 shares in the company, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director now owns 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 196,981 shares of company stock valued at $2,743,434 over the last 90 days. Company insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

NASDAQ:SOFI traded up $0.93 during trading hours on Thursday, hitting $15.36. 84,234,708 shares of the stock traded hands, compared to its average volume of 50,051,303. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.82. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The stock has a 50 day moving average price of $13.04 and a 200 day moving average price of $13.96. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The company's revenue was up 32.7% on a year-over-year basis. During the same period last year, the firm earned $0.02 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on SOFI. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. Truist Financial started coverage on SoFi Technologies in a report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price objective for the company. JMP Securities started coverage on SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. UBS Group raised their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, Barclays upped their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $14.73.

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.