Greenwood Capital Associates LLC Purchases New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Greenwood Capital Associates LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 27,929 shares of the company's stock, valued at approximately $325,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies during the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies during the fourth quarter worth about $32,000. IAG Wealth Partners LLC acquired a new stake in SoFi Technologies during the fourth quarter worth about $38,000. Finally, Elequin Capital LP grew its stake in 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 buying an additional 631 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SOFI shares. Stephens started coverage on shares of SoFi Technologies in a research note on Thursday. They set an "overweight" rating and a $20.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. JMP Securities started coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. 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. Finally, Truist Financial began coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and a consensus price target of $14.73.

Insiders Place Their Bets

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director now owns 289,258 shares in the company, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction that occurred 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 transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 276,787 shares of company stock worth $3,753,076. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Trading Down 5.4%

NASDAQ SOFI traded down $0.81 during trading hours on Friday, reaching $14.09. The company's stock had a trading volume of 76,609,263 shares, compared to its average volume of 49,758,648. The firm has a fifty day simple moving average of $12.79 and a 200-day simple moving average of $13.99. The stock has a market cap of $15.57 billion, a P/E ratio of 38.08, a P/E/G ratio of 2.24 and a beta of 1.82. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the business 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.