Greenwood Capital Associates LLC Invests $325,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

Greenwood Capital Associates LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 27,929 shares of the company’s stock, valued at approximately $325,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SOFI. Brighton Jones LLC raised its holdings in shares of SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after purchasing an additional 14,281 shares during the period. Yousif Capital Management LLC increased its position in SoFi Technologies by 13.7% during the 4th quarter. Yousif Capital Management LLC now owns 12,436 shares of the company’s stock worth $192,000 after purchasing an additional 1,496 shares in the last quarter. Choreo LLC raised its holdings in SoFi Technologies by 15.7% in the fourth quarter. Choreo LLC now owns 19,853 shares of the company’s stock valued at $310,000 after buying an additional 2,696 shares during the period. Strategic Financial Concepts LLC acquired a new position in SoFi Technologies during the fourth quarter valued at approximately $169,000. Finally, Savant Capital LLC grew its stake in SoFi Technologies by 4.0% during the fourth quarter. Savant Capital LLC now owns 42,392 shares of the company’s stock worth $653,000 after buying an additional 1,614 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $14.90 on Friday. The firm has a fifty day moving average of $12.70 and a two-hundred day moving average of $14.00. The firm has a market cap of $16.47 billion, a P/E ratio of 40.27, a P/E/G 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 quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS 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 analysts’ expectations of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.02 earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $13.95, for a total value of $1,215,603.00. Following the completion of the transaction, the director now directly owns 376,398 shares of the company’s stock, valued at approximately $5,250,752.10. The trade was a 18.80% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 276,787 shares of company stock worth $3,753,076. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on SOFI shares. Truist Financial assumed coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They issued a “hold” rating and a $14.00 target price on the stock. Citizens Jmp began coverage on SoFi Technologies in a research report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price objective on the stock. UBS Group boosted their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research note on Wednesday, April 30th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Barclays boosted their price target on SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $14.73.

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.