14,773 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Purchased by NorthRock Partners LLC

Key Points

• NorthRock Partners LLC has acquired 14,773 shares of SoFi Technologies, valued at approximately $172,000, marking a new investment during the first quarter.
• Insider activity shows that Kelli Keough and Magdalena Yesil sold significant amounts of stock, with Keough selling 10,267 shares and Yesil selling 87,140 shares, indicating a decrease in insider ownership.
• SoFi Technologies reported earnings of $0.08 per share in its recent quarter, surpassing analysts' estimate while generating $519.37 million in revenue, though falling short of the consensus estimate.

NorthRock Partners LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 14,773 shares of the company's stock, valued at approximately $172,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Elequin Capital LP raised its stake in shares of SoFi Technologies by 30.1% during the 4th 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. CIBC Private Wealth Group LLC raised its position in SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after acquiring an additional 685 shares in the last quarter. Bank of New Hampshire raised 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 acquiring an additional 1,000 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in shares of SoFi Technologies by 1.8% in 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 in the last quarter. Finally, Signaturefd LLC increased its holdings in SoFi Technologies by 6.2% in the first quarter. Signaturefd LLC now owns 21,476 shares of the company's stock valued at $250,000 after buying an additional 1,246 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SOFI shares. Needham & Company LLC raised their price objective on SoFi Technologies from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Keefe, Bruyette & Woods raised their price target on SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a research report on Thursday, July 10th. UBS Group raised their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Truist Financial raised their target price on shares of SoFi Technologies from $14.00 to $20.00 and gave the company a "hold" rating in a report on Thursday, July 17th. Finally, Barclays raised their target price on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $18.06.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the 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 transaction, the chief technology officer owned 724,321 shares in the company, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the 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 transaction, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 273,181 shares of company stock valued at $4,043,240. 2.60% of the stock is owned by insiders.

SoFi Technologies Trading Up 2.7%

Shares of SOFI stock traded up $0.58 during trading hours on Monday, reaching $21.81. 59,557,469 shares of the stock traded hands, compared to its average volume of 83,465,680. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $25.11. The business has a fifty day moving average price of $17.59 and a 200 day moving average price of $14.86. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $24.11 billion, a PE ratio of 88.46, a PEG ratio of 2.52 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. SoFi Technologies's quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.01 earnings per share. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.