CNB Bank Buys New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

CNB Bank bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, Holdings Channel reports. The institutional investor bought 5,000 shares of the company’s stock, valued at approximately $50,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Snowden Capital Advisors LLC raised its stake in SoFi Technologies by 8.8% in the 2nd quarter. Snowden Capital Advisors LLC now owns 15,375 shares of the company’s stock valued at $128,000 after purchasing an additional 1,250 shares during the last quarter. Wedmont Private Capital grew its holdings in SoFi Technologies by 13.2% in the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock valued at $120,000 after buying an additional 1,411 shares during the period. Oppenheimer & Co. Inc. grew its holdings in SoFi Technologies by 0.7% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company’s stock valued at $1,536,000 after buying an additional 1,413 shares during the period. MetLife Investment Management LLC grew its holdings in SoFi Technologies by 8.9% in the 2nd quarter. MetLife Investment Management LLC now owns 18,167 shares of the company’s stock valued at $152,000 after buying an additional 1,481 shares during the period. Finally, Westside Investment Management Inc. grew its holdings in SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI traded down $0.02 during trading on Friday, reaching $7.11. The company’s stock had a trading volume of 36,870,029 shares, compared to its average volume of 35,029,844. The company has a fifty day moving average of $7.72 and a two-hundred day moving average of $7.90. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

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

Wall Street Analyst Weigh In

Several research firms have commented on SOFI. Mizuho lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. Needham & Company LLC started coverage on SoFi Technologies in a report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target for the company. Morgan Stanley reiterated an “underweight” rating and set a $6.50 target price (down previously from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Finally, Citigroup started coverage on SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $9.08.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.70% of the company’s stock.

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.