Insigneo Advisory Services LLC Purchases 3,349 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Insigneo Advisory Services LLC grew its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 27.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,602 shares of the company’s stock after acquiring an additional 3,349 shares during the period. Insigneo Advisory Services LLC’s holdings in SoFi Technologies were worth $102,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 102,328 shares of company stock worth $808,246. Insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Up 2.4 %

SOFI opened at $7.95 on Friday. The stock has a market capitalization of $8.40 billion, a price-to-earnings ratio of -25.65, a P/E/G ratio of 1.60 and a beta of 1.70. 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, Inc. has a twelve month low of $6.01 and a twelve month high of $10.49. The company has a 50-day simple moving average of $7.37 and a 200 day simple moving average of $7.16.

SoFi Technologies (NASDAQ:SOFI) last issued 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 company had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.06) EPS. Analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal 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.