SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Position Increased by Claro Advisors LLC

Claro Advisors LLC boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,550 shares of the company’s stock after buying an additional 7,304 shares during the quarter. Claro Advisors LLC’s holdings in SoFi Technologies were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Mount Lucas Management LP bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $920,000. Consolidated Investment Group LLC boosted its holdings in SoFi Technologies by 119.0% during the third quarter. Consolidated Investment Group LLC now owns 138,000 shares of the company’s stock worth $1,085,000 after buying an additional 75,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in SoFi Technologies by 4,252.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after buying an additional 86,545 shares during the last quarter. SpiderRock Advisors LLC increased its holdings in shares of SoFi Technologies by 98.2% in the third quarter. SpiderRock Advisors LLC now owns 251,246 shares of the company’s stock valued at $1,975,000 after buying an additional 124,500 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of SoFi Technologies by 64.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock valued at $1,948,000 after acquiring an additional 115,316 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

SOFI has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday. Needham & Company LLC boosted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $9.80.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 17.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 in the last three months. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

SOFI stock opened at $14.42 on Wednesday. The firm has a 50 day simple moving average of $9.98 and a 200 day simple moving average of $8.05. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $14.44. The stock has a market cap of $15.65 billion, a P/E ratio of 144.20, a P/E/G ratio of 2.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the previous year, the company posted ($0.03) EPS. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. Research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share 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.