Lakeshore Financial Planning Inc. Purchases 5,000 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Lakeshore Financial Planning Inc. boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 92,813 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. SoFi Technologies makes up approximately 0.3% of Lakeshore Financial Planning Inc.’s holdings, making the stock its 23rd biggest holding. Lakeshore Financial Planning Inc.’s holdings in SoFi Technologies were worth $730,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in SoFi Technologies by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock worth $604,632,000 after purchasing an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in SoFi Technologies by 263.3% in the 2nd 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. raised its holdings in SoFi Technologies by 6.4% in the 2nd 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 in the last quarter. Marshall Wace LLP raised its holdings in SoFi Technologies by 130.0% in the 2nd 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 in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in SoFi Technologies by 16.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company’s stock worth $20,604,000 after purchasing an additional 443,198 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,081 shares of the 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 owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction 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 completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 in the last 90 days. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $11.90 on Friday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $12.19. The company’s 50-day moving average is $8.98 and its 200 day moving average is $7.68. The company has a market capitalization of $12.68 billion, a price-to-earnings ratio of 119.00, a price-to-earnings-growth ratio of 1.79 and a beta of 1.60. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88.

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, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for 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 3.79%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.