522,312 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Acquired by L & S Advisors Inc

L & S Advisors Inc acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 522,312 shares of the company’s stock, valued at approximately $8,044,000.

Several other large investors have also modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ purchased a new position in SoFi Technologies during the 4th quarter valued at about $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies in the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC lifted its position in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares in the last quarter. IAG Wealth Partners LLC acquired a new stake in shares of SoFi Technologies during the 4th quarter valued at $38,000. Finally, Brooklyn Investment Group purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at $28,000. 38.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on SOFI. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Finally, Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Down 2.9 %

Shares of SOFI opened at $11.85 on Friday. The stock’s 50-day moving average price is $14.42 and its 200 day moving average price is $13.17. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the firm earned $0.04 earnings per share. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares in the company, valued at approximately $2,877,391.20. This represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,905 shares of company stock worth $1,308,075. Insiders own 2.60% of the company’s stock.

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.