City State Bank Grows Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

City State Bank lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 2,000.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 5,250 shares of the company’s stock after acquiring an additional 5,000 shares during the quarter. City State Bank’s holdings in SoFi Technologies were worth $61,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies during the fourth quarter worth $27,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at $31,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $32,000. IAG Wealth Partners LLC acquired a new position in SoFi Technologies during the 4th quarter worth about $38,000. Finally, Elequin Capital LP lifted its stake in SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after acquiring an additional 631 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SOFI shares. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 target price for the company. Citizens Jmp started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price objective for the company. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Truist Financial assumed coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They issued a “hold” rating and a $14.00 price target for the company. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $14.36.

SoFi Technologies Stock Up 4.2%

Shares of NASDAQ SOFI opened at $14.24 on Friday. The business has a 50-day moving average of $12.37 and a two-hundred day moving average of $14.01. The company has a market capitalization of $15.74 billion, a price-to-earnings ratio of 38.49, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business’s quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company earned $0.02 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the firm’s stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $10.71, for a total transaction of $119,748.51. Following the transaction, the executive vice president now owns 215,029 shares of the company’s stock, valued at approximately $2,302,960.59. This trade represents a 4.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 102,507 shares of company stock valued at $1,283,528. 2.60% of the stock is owned by corporate insiders.

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.