SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 26.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,063 shares of the company’s stock after acquiring an additional 27,958 shares during the period. Janney Montgomery Scott LLC’s holdings in SoFi Technologies were worth $1,062,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SOFI. Envestnet Portfolio Solutions Inc. acquired a new position in shares of SoFi Technologies in the 1st quarter valued at about $79,000. Empowered Funds LLC boosted its holdings in shares of SoFi Technologies by 22.2% in the 1st quarter. Empowered Funds LLC now owns 47,854 shares of the company’s stock valued at $349,000 after buying an additional 8,707 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of SoFi Technologies by 4.0% in the 1st quarter. QRG Capital Management Inc. now owns 53,849 shares of the company’s stock valued at $393,000 after buying an additional 2,095 shares during the period. Russell Investments Group Ltd. boosted its holdings in shares of SoFi Technologies by 341.0% in the 1st quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company’s stock valued at $318,000 after buying an additional 33,732 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of SoFi Technologies by 203.5% in the 1st quarter. US Bancorp DE now owns 60,763 shares of the company’s stock valued at $444,000 after buying an additional 40,743 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on SOFI shares. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Jefferies Financial Group lifted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.32.

SoFi Technologies Stock Up 1.7 %

SOFI stock opened at $13.63 on Friday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $14.44. The company has a market capitalization of $14.53 billion, a price-to-earnings ratio of 136.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.60. The firm’s 50-day moving average is $9.70 and its two-hundred day moving average is $7.93. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52.

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

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock valued at $904,677 in the last quarter. Insiders own 2.60% of the company’s stock.

SoFi Technologies Company 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.