GAMMA Investing LLC Buys 1,703 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

GAMMA Investing LLC increased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,925 shares of the company’s stock after buying an additional 1,703 shares during the period. GAMMA Investing LLC’s holdings in SoFi Technologies were worth $91,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies in the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies in the 3rd quarter worth about $28,000. Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the 3rd quarter valued at about $39,000. Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $47,000. Finally, SouthState Corp acquired a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $67,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

SOFI stock opened at $14.15 on Friday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $17.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a market cap of $15.35 billion, a price-to-earnings ratio of 141.51, a P/E/G ratio of 2.70 and a beta of 1.78. The company has a 50 day simple moving average of $14.96 and a 200 day simple moving average of $10.35.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.03) earnings per share. Research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SOFI. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Mizuho upped their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.13.

Insider Activity

In other news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the transaction, the director now owns 25,937 shares in the company, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,009,264 shares of company stock valued at $416,889,795. 2.60% of the stock is currently owned by corporate insiders.

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.