NBC Securities Inc. Raises Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

NBC Securities Inc. raised its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 109,571.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,677 shares of the company’s stock after buying an additional 7,670 shares during the period. NBC Securities Inc.’s holdings in SoFi Technologies were worth $89,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP increased its holdings in SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after buying an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC increased its holdings in SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after buying an additional 685 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in SoFi Technologies by 13.9% in the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after buying an additional 1,000 shares in the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in SoFi Technologies by 33.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock valued at $68,000 after buying an additional 1,100 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in SoFi Technologies by 19.4% in the first quarter. Parallel Advisors LLC now owns 8,754 shares of the company’s stock valued at $102,000 after buying an additional 1,420 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Up 2.1%

Shares of NASDAQ SOFI opened at $14.39 on Wednesday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The stock has a market cap of $15.91 billion, a PE ratio of 38.89, a P/E/G ratio of 2.24 and a beta of 1.82. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $12.49 and a 200 day moving average of $14.00.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same quarter in the prior year, the company earned $0.02 EPS. SoFi Technologies’s revenue was up 32.7% compared to the same quarter last year. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, 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 value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,507 shares of company stock valued at $1,283,528. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of recent analyst reports. JMP Securities initiated coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price objective for the company. Barclays boosted their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Truist Financial assumed coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They set a “hold” rating and a $14.00 target price for the company. Citizens Jmp assumed coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 target price for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $14.36.

SoFi Technologies Company 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.