Belpointe Asset Management LLC Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Belpointe Asset Management LLC increased its position in SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) by 26.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 21,625 shares of the company’s stock after purchasing an additional 4,527 shares during the quarter. Belpointe Asset Management LLC’s holdings in SoFi Technologies were worth $215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in SOFI. Norges Bank purchased a new position in shares of SoFi Technologies in the 4th quarter valued at approximately $71,349,000. Dimensional Fund Advisors LP purchased a new position in shares of SoFi Technologies in the 4th quarter valued at approximately $38,595,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of SoFi Technologies by 241.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock valued at $38,772,000 after purchasing an additional 2,755,197 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of SoFi Technologies by 241.4% in the 4th quarter. Nikko Asset Management Americas Inc. now owns 3,896,692 shares of the company’s stock valued at $38,733,000 after purchasing an additional 2,755,197 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of SoFi Technologies by 3.5% in the 3rd 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. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price objective for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Citigroup assumed coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price objective for the company. BTIG Research assumed coverage on SoFi Technologies in a research report on Friday. They set a “neutral” rating for the company. Wedbush reaffirmed an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Tuesday, April 30th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.08.

Read Our Latest Report on SOFI

SoFi Technologies Stock Down 1.3 %

SoFi Technologies stock opened at $6.99 on Friday. The firm has a market cap of $7.39 billion, a price-to-earnings ratio of -22.55, a PEG ratio of 1.65 and a beta of 1.72. The stock has a fifty day simple moving average of $7.17 and a two-hundred day simple moving average of $7.80. SoFi Technologies, Inc. has a 12 month low of $6.41 and a 12 month high of $11.70. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. During the same quarter in the previous year, the company posted ($0.05) earnings per share. SoFi Technologies’s revenue was up 26.2% compared to the same quarter last year. Equities analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Anthony Noto acquired 28,775 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was bought at an average price of $6.90 per share, with a total value of $198,547.50. Following the completion of the acquisition, the chief executive officer now directly owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony Noto bought 28,775 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.

About SoFi Technologies

(Free Report)

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.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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