Pathstone Holdings LLC Increases Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Pathstone Holdings LLC grew its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 13.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 192,057 shares of the company’s stock after buying an additional 22,426 shares during the period. Pathstone Holdings LLC’s holdings in SoFi Technologies were worth $1,510,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mount Lucas Management LP purchased a new position in SoFi Technologies in the 3rd quarter worth approximately $920,000. Consolidated Investment Group LLC lifted its holdings in shares of SoFi Technologies by 119.0% during the third quarter. Consolidated Investment Group LLC now owns 138,000 shares of the company’s stock valued at $1,085,000 after purchasing an additional 75,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in shares of SoFi Technologies by 4,252.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock valued at $585,000 after purchasing an additional 86,545 shares in the last quarter. SpiderRock Advisors LLC boosted its position in shares of SoFi Technologies by 98.2% during the third quarter. SpiderRock Advisors LLC now owns 251,246 shares of the company’s stock valued at $1,975,000 after buying an additional 124,500 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in SoFi Technologies by 64.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after buying an additional 115,316 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SOFI shares. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays raised their target price 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. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $9.80.

SoFi Technologies Trading Up 4.1 %

Shares of NASDAQ:SOFI opened at $16.12 on Friday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $16.16. The company has a market cap of $17.49 billion, a PE ratio of 161.20, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60. The stock has a 50 day moving average of $10.90 and a 200 day moving average of $8.40. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $631.59 million. During the same quarter in the previous year, the company earned ($0.03) EPS. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies 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 owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 96,287 shares of company stock worth $863,250. 2.60% of the stock is owned by corporate insiders.

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.