Los Angeles Capital Management LLC Invests $68,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

Los Angeles Capital Management LLC bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,293 shares of the company’s stock, valued at approximately $68,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. CIBC Private Wealth Group LLC increased its position in shares of SoFi Technologies by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after buying an additional 1,498 shares in the last quarter. EP Wealth Advisors LLC grew its position in shares of SoFi Technologies by 0.4% in the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,508 shares during the period. Allspring Global Investments Holdings LLC grew its position in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. SOA Wealth Advisors LLC. increased its stake in SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other news, 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 value of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on SOFI shares. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Barclays cut their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, BTIG Research started coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $8.06 on Tuesday. The stock has a market capitalization of $8.52 billion, a price-to-earnings ratio of -26.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The business has a 50-day moving average of $7.23 and a 200 day moving average of $7.14. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same quarter in the prior year, the company earned ($0.06) earnings per share. The business’s quarterly revenue was up 20.2% on a year-over-year basis. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share 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.