Lindbrook Capital LLC removed its position in shares of SoFi Technologies, Inc. (NASDAQ: SOFI – Get an assessment) by 18.1% during the first quarter, HoldingsChannel.com reports. The institutional investor held 12,376 shares of the company after purchasing an additional 1,900 shares during the quarter. Lindbrook Capital LLC’s holdings in SoFi Technologies were worth $117,000 at the end of the last reporting period.
Other hedge funds and other institutional investors have also recently changed their positions in the company. DCM International VI Ltd. purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $185,092,000. State Street Corp increased its position in SoFi Technologies by 222.0% in the fourth quarter. State Street Corp now owns 5,929,036 shares of the company worth $93,738,000 after purchasing an additional 4,087,917 shares in the last quarter. Mizuho Markets Americas LLC increased its position in SoFi Technologies by 341.8% in the fourth quarter. Mizuho Markets Americas LLC now owns 1,678,773 shares of the company worth $26,541,000 after purchasing an additional 1,298,773 shares last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in shares of SoFi Technologies during the fourth quarter for a value of approximately $19,846,000. Finally, Northern Trust Corp increased its position in SoFi Technologies shares by 80.7% during the fourth quarter. Northern Trust Corp now owns 1,899,144 shares of the company worth $30,026,000 after buying an additional 848,206 shares last quarter. 56.45% of the shares are currently held by institutional investors.
SOFI has been the subject of several research analyst reports. Bank of America reduced its target price on SoFi Technologies from $12.00 to $7.00 in a Tuesday, May 10 research report. Wedbush lowered its price target on SoFi Technologies from $20.00 to $15.00 in a Thursday, April 7 research note. Mizuho lowered its price target on SoFi Technologies from $14.00 to $9.00 and set an “na” rating for the company in a Tuesday, May 17 research note. Citigroup cut its price target on SoFi Technologies from $17.00 to $11.00 in a Thursday, May 12 report. Finally, Oppenheimer cut its price target on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating on the stock in a Thursday, April 7 report. Five equity research analysts gave the stock a hold rating and seven gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.88.
Shares of SOFI opened at $5.41 on Monday. The company has a quick ratio of 5.60, a current ratio of 5.60 and a leverage ratio of 0.94. The company has a market capitalization of $4.95 billion, a PE ratio of -6.60 and a beta of 1.39. The company’s fifty-day moving average is $6.40 and its two-hundred-day moving average is $9.56. SoFi Technologies, Inc. has a fifty-two-week low of $4.82 and a fifty-two-week high of $24.65.
Sofi Technologies (NASDAQ: SOFI – Get an assessment) last released its results on Tuesday, May 10. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). SoFi Technologies has a negative net margin of 36.32% and a negative return on equity of 9.24%. The company posted revenue of $321.70 million in the quarter, versus a consensus estimate of $283.99 million. The company’s revenues increased by 48.9% compared to the same quarter last year. As a group, equity research analysts expect SoFi Technologies, Inc. to post -0.45 earnings per share for the current year.
In related news, CEO Antoine Noto acquired 13,500 shares of the company in a transaction on Thursday, May 19. The shares were purchased at an average price of $7.79 per share, for a total transaction of $105,165.00. Following the purchase, the CEO now owns 3,212,839 shares of the company, valued at $25,028,015.81. The acquisition was disclosed in a filing with the SEC, accessible via this hyperlink. Also, director Harvey M. Schwartz purchased 53,500 shares of the company in a transaction dated Monday, June 13. The shares were acquired at an average price of $5.59 per share, for a total transaction of $299,065.00. Following the purchase, the administrator now owns 283,352 shares of the company, valued at $1,583,937.68. Disclosure of this purchase can be found here. Over the past ninety days, insiders have purchased 257,753 shares of the company valued at $1,561,711. Insiders of the company hold 13.00% of the shares of the company.
Profile SoFi Technologies (Get an assessment)
SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow its members to borrow, save, spend, invest and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.
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