Geneos Wealth Management Inc. Purchases 2,900 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Geneos Wealth Management Inc. lifted its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,125 shares of the company’s stock after purchasing an additional 2,900 shares during the period. Geneos Wealth Management Inc.’s holdings in SoFi Technologies were worth $101,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 3.5% in the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after purchasing an additional 2,567,797 shares during the period. BlackRock Inc. raised its stake in SoFi Technologies by 6.4% in the second quarter. BlackRock Inc. now owns 38,122,793 shares of the company’s stock worth $317,944,000 after buying an additional 2,302,565 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new position in SoFi Technologies in the fourth quarter worth approximately $83,643,000. State Street Corp raised its stake in SoFi Technologies by 12.9% in the second quarter. State Street Corp now owns 13,680,519 shares of the company’s stock worth $114,096,000 after buying an additional 1,567,782 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in SoFi Technologies by 4.2% in the first quarter. Geode Capital Management LLC now owns 12,051,675 shares of the company’s stock worth $73,154,000 after buying an additional 484,530 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $7.12 on Tuesday. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The stock’s fifty day moving average price is $7.78 and its 200 day moving average price is $7.92. SoFi Technologies, Inc. has a 1 year low of $4.45 and a 1 year high of $11.70. The company has a market cap of $6.95 billion, a price-to-earnings ratio of -18.74 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 29th. The company reported $0.02 EPS for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The company had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. During the same period in the prior year, the company earned ($0.05) earnings per share. The firm’s revenue was up 34.7% on a year-over-year basis. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.70% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of SoFi Technologies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $11.00 price objective for the company. Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Needham & Company LLC initiated coverage on SoFi Technologies in a research report on Wednesday, April 3rd. They set a “buy” rating and a $10.00 price target on the stock. Jefferies Financial Group reduced their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Finally, Citigroup initiated coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.08.

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.