Pegasus Asset Management Inc. Buys 1,607 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Pegasus Asset Management Inc. grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 112,951 shares of the company’s stock after buying an additional 1,607 shares during the period. Pegasus Asset Management Inc.’s holdings in SoFi Technologies were worth $888,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SOFI. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after purchasing an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of SoFi Technologies by 6.4% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock worth $75,737,000 after purchasing an additional 690,638 shares during the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of SoFi Technologies by 176.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after purchasing an additional 6,870,610 shares in the last quarter. Finally, Marshall Wace LLP increased its position in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on SOFI shares. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. 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 research report on Tuesday, July 9th. Keefe, Bruyette & Woods reduced their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $9.25.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 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 trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,328 shares of company stock valued at $808,246 over the last three months. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.10 on Tuesday, hitting $10.50. The company’s stock had a trading volume of 23,382,482 shares, compared to its average volume of 45,770,301. The stock has a 50 day moving average of $7.99 and a 200-day moving average of $7.35. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of -33.90, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $10.58.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The firm had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same quarter last year, the firm earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

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.