Exchange Traded Concepts LLC Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Exchange Traded Concepts LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 175,685 shares of the company’s stock, valued at approximately $2,706,000.

Several other hedge funds have also bought and sold shares of SOFI. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies during the third quarter worth about $28,000. FNY Investment Advisers LLC boosted its holdings in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $47,000. 38.43% of the stock is currently owned by institutional investors.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last three months. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI opened at $17.92 on Friday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The company has a 50-day simple moving average of $15.71 and a two-hundred day simple moving average of $11.05. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market capitalization of $19.45 billion, a PE ratio of 179.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78.

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

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.71.

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.