Summit Trail Advisors LLC Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Summit Trail Advisors LLC lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 0.3% in the 3rd quarter, Holdings Channel reports. The firm owned 280,464 shares of the company’s stock after purchasing an additional 855 shares during the quarter. Summit Trail Advisors LLC’s holdings in SoFi Technologies were worth $2,204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Baltimore Washington Financial Advisors Inc. raised its holdings in SoFi Technologies by 4.0% in the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 525,151 shares of the company’s stock valued at $4,128,000 after acquiring an additional 20,188 shares during the last quarter. Cerity Partners LLC lifted its position in SoFi Technologies by 24.5% in the third quarter. Cerity Partners LLC now owns 705,371 shares of the company’s stock worth $5,544,000 after purchasing an additional 138,598 shares during the period. Great Valley Advisor Group Inc. increased its stake in SoFi Technologies by 24.1% in the 3rd quarter. Great Valley Advisor Group Inc. now owns 75,272 shares of the company’s stock worth $592,000 after purchasing an additional 14,637 shares in the last quarter. Nwam LLC lifted its position in shares of SoFi Technologies by 22.1% in the third quarter. Nwam LLC now owns 40,104 shares of the company’s stock worth $315,000 after purchasing an additional 7,255 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Kelli Keough sold 9,308 shares of the 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 completion of the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The stock was 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 trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,287 shares of company stock valued at $863,250 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on SOFI shares. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC upped their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $9.80.

SoFi Technologies Trading Up 3.9 %

NASDAQ SOFI opened at $15.60 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock’s 50 day moving average is $10.44 and its 200 day moving average is $8.22. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $15.75. The firm has a market capitalization of $16.93 billion, a PE ratio of 156.02, a P/E/G ratio of 2.59 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released 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 business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

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.