Drive Wealth Management LLC Grows Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Drive Wealth Management LLC raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 39,350 shares of the company’s stock after purchasing an additional 4,063 shares during the period. Drive Wealth Management LLC’s holdings in SoFi Technologies were worth $309,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. CIBC Asset Management Inc increased its position in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC raised its position in shares of SoFi Technologies by 10.0% in the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the last quarter. Stratos Wealth Advisors LLC lifted its stake in shares of SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the period. NBC Securities Inc. boosted its position in SoFi Technologies by 12.7% during the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock worth $75,000 after acquiring an additional 1,081 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its holdings in SoFi Technologies by 11.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after acquiring an additional 1,226 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Up 2.2 %

SOFI stock opened at $13.93 on Tuesday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $14.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.21. The business has a 50-day moving average of $9.84 and a 200-day moving average of $8.00. The stock has a market capitalization of $14.85 billion, a P/E ratio of 139.31, a P/E/G ratio of 2.27 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same period in the previous year, the business earned ($0.03) EPS. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock valued at $904,677 in the last three months. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of several research analyst reports. The Goldman Sachs Group raised 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. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays increased 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. Finally, Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.40.

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.