10,083 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Acquired by Richmond Brothers Inc.

Richmond Brothers Inc. purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,083 shares of the company’s stock, valued at approximately $67,000. SoFi Technologies comprises about 0.1% of Richmond Brothers Inc.’s portfolio, making the stock its 22nd biggest position.

Other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new position in SoFi Technologies in the first quarter worth approximately $27,000. Tortoise Investment Management LLC purchased a new position in SoFi Technologies in the fourth quarter worth approximately $39,000. Vermillion & White Wealth Management Group LLC purchased a new position in SoFi Technologies in the fourth quarter worth approximately $40,000. Allspring Global Investments Holdings LLC lifted its position in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI opened at $8.11 on Thursday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The stock has a market capitalization of $8.57 billion, a P/E ratio of -26.16, a P/E/G ratio of 1.48 and a beta of 1.70. The company’s fifty day moving average is $7.29 and its two-hundred day moving average is $7.14. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates 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 period in the prior year, the company posted ($0.06) EPS. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

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

About SoFi Technologies

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.