Proficio Capital Partners LLC Invests $513,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

Proficio Capital Partners LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 33,295 shares of the company’s stock, valued at approximately $513,000.

A number of other hedge funds have also recently modified their holdings of SOFI. Oppenheimer & Co. Inc. boosted its position in SoFi Technologies by 47.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company’s stock worth $5,628,000 after purchasing an additional 118,288 shares in the last quarter. Nwam LLC boosted its position in SoFi Technologies by 11.3% during the fourth quarter. Nwam LLC now owns 44,635 shares of the company’s stock worth $687,000 after purchasing an additional 4,531 shares in the last quarter. Bank of New York Mellon Corp boosted its position in SoFi Technologies by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company’s stock worth $49,640,000 after purchasing an additional 8,218 shares in the last quarter. Prasad Wealth Partners LLC purchased a new position in SoFi Technologies during the fourth quarter worth approximately $182,000. Finally, Cassaday & Co Wealth Management LLC boosted its position in SoFi Technologies by 99.0% during the fourth quarter. Cassaday & Co Wealth Management LLC now owns 19,900 shares of the company’s stock worth $306,000 after purchasing an additional 9,900 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

SOFI stock opened at $12.59 on Monday. The business has a fifty day moving average of $15.24 and a two-hundred day moving average of $12.74. 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 has a market cap of $13.81 billion, a price-to-earnings ratio of 34.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 last year, the company earned $0.04 earnings per share. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. The trade was a 66.72 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 144,004 shares of company stock worth $2,292,100 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SOFI. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Bank of America reissued an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. UBS Group increased their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Four equities 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 issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.