280,940 Shares of SoFi Technologies, Inc. $SOFI Acquired by Trek Financial LLC

Trek Financial LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, Holdings Channel.com reports. The institutional investor bought 280,940 shares of the company’s stock, valued at approximately $4,416,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Traynor Capital Management Inc. bought a new position in SoFi Technologies during the 3rd quarter worth approximately $216,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in SoFi Technologies during the 3rd quarter valued at $46,000. Vise Technologies Inc. increased its position in shares of SoFi Technologies by 237.7% in the third quarter. Vise Technologies Inc. now owns 179,233 shares of the company’s stock valued at $2,818,000 after acquiring an additional 126,164 shares during the period. Intrua Financial LLC raised its stake in shares of SoFi Technologies by 9.9% during the third quarter. Intrua Financial LLC now owns 19,515 shares of the company’s stock valued at $307,000 after acquiring an additional 1,750 shares during the last quarter. Finally, Partners Wealth Management LLC bought a new stake in shares of SoFi Technologies in the third quarter worth about $287,000. 38.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,203 shares of the stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $14.72, for a total value of $150,188.16. Following the sale, the executive vice president directly owned 397,870 shares of the company’s stock, valued at approximately $5,856,646.40. This represents a 2.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction on Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the transaction, the chief technology officer directly owned 912,650 shares in the company, valued at $15,971,375. This trade represents a 2.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 50,316 shares of company stock valued at $852,605. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on SOFI shares. Piper Sandler initiated coverage on shares of SoFi Technologies in a report on Monday, August 17th. They set an “overweight” rating and a $22.00 target price on the stock. Monness Crespi & Hardt started coverage on SoFi Technologies in a research report on Monday, October 26th. They issued a “buy” rating and a $20.00 price target on the stock. Wells Fargo & Company reaffirmed a “negative” rating on shares of SoFi Technologies in a research report on Wednesday. Weiss Ratings raised SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, October 21st. Finally, Scotiabank reissued a “sector outperform” rating and set a $26.00 price objective (up from $25.00) on shares of SoFi Technologies in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $21.23.

SoFi Technologies Price Performance

SOFI opened at $16.76 on Monday. SoFi Technologies, Inc. has a 52 week low of $13.86 and a 52 week high of $32.73. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The firm has a 50-day simple moving average of $16.58 and a two-hundred day simple moving average of $17.89. The company has a market capitalization of $21.65 billion, a PE ratio of 30.47, a price-to-earnings-growth ratio of 1.05 and a beta of 2.25.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 27th. The company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.01. SoFi Technologies had a return on equity of 6.89% and a net margin of 15.60%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same quarter in the previous year, the company posted $0.11 EPS. The company’s revenue for the quarter was up 44.4% compared to the same quarter last year. Analysts forecast that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.