Moors & Cabot Inc. Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Moors & Cabot Inc. increased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 5.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 708,679 shares of the company's stock after purchasing an additional 36,084 shares during the quarter. Moors & Cabot Inc. owned approximately 0.06% of SoFi Technologies worth $8,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Two Sigma Advisers LP purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $299,980,000. Geode Capital Management LLC raised its position in shares of SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Northern Trust Corp lifted its stake in shares of SoFi Technologies by 22.7% in the fourth quarter. Northern Trust Corp now owns 6,052,301 shares of the company's stock worth $93,205,000 after buying an additional 1,121,550 shares in the last quarter. Voloridge Investment Management LLC bought a new position in SoFi Technologies in the 4th quarter valued at approximately $75,139,000. Finally, Azora Capital LP boosted its position in shares of 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 buying an additional 71,277 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several research reports. TD Cowen started coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They issued a "hold" rating and a $21.00 target price for the company. Stephens began coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price on the stock. Barclays boosted their price objective on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday. Mizuho set a $26.00 target price on shares of SoFi Technologies and gave the stock an "outperform" rating in a report on Thursday. Finally, JMP Securities reaffirmed a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus target price of $17.91.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction 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 owned 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction on Friday, July 18th. The stock was sold at an average price of $21.80, for a total transaction of $223,820.60. Following the completion of the transaction, the executive vice president directly owned 245,200 shares of the company's stock, valued at $5,345,360. The trade was a 4.02% 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. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Stock Up 3.2%

Shares of SOFI stock opened at $22.58 on Friday. The company's fifty day simple moving average is $17.43 and its two-hundred day simple moving average is $14.82. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $25.11. The stock has a market cap of $24.96 billion, a P/E ratio of 47.04, a PEG ratio of 2.57 and a beta of 1.91. 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 posted 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 company 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 4.51% and a net margin of 18.38%. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.01 earnings per share. Analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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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