Westwood Holdings Group Inc. Makes New $70,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Westwood Holdings Group Inc. bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 10,646 shares of the company’s stock, valued at approximately $70,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Summit Trail Advisors LLC increased its stake in SoFi Technologies by 7.6% during the 2nd quarter. Summit Trail Advisors LLC now owns 279,609 shares of the company’s stock valued at $1,848,000 after purchasing an additional 19,693 shares in the last quarter. Sei Investments Co. increased its position in shares of SoFi Technologies by 8.8% during the second quarter. Sei Investments Co. now owns 38,976 shares of the company’s stock valued at $258,000 after acquiring an additional 3,139 shares in the last quarter. AE Wealth Management LLC raised its holdings in SoFi Technologies by 12.5% in the 2nd quarter. AE Wealth Management LLC now owns 19,600 shares of the company’s stock worth $130,000 after acquiring an additional 2,176 shares during the last quarter. Public Employees Retirement Association of Colorado lifted its position in SoFi Technologies by 33.4% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 102,103 shares of the company’s stock valued at $675,000 after acquiring an additional 25,583 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. boosted its stake in SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock valued at $585,000 after purchasing an additional 86,545 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred 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 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 legal filing with the SEC, which can be accessed through the SEC website. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Down 1.6 %

SOFI stock opened at $7.92 on Tuesday. The business’s 50-day moving average price is $7.36 and its 200-day moving average price is $7.15. The stock has a market cap of $8.37 billion, a P/E ratio of -25.55, a PEG ratio of 1.48 and a beta of 1.70. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $10.49. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

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. The business had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company’s revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) earnings per share. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SOFI shares. Keefe, Bruyette & Woods lowered their price target 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. Barclays dropped 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. BTIG Research assumed coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $9.14.

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.