Cannon Global Investment Management LLC Purchases New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cannon Global Investment Management LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 35,000 shares of the company’s stock, valued at approximately $539,000.

A number of other large investors also recently modified their holdings of the stock. Captrust Financial Advisors lifted its stake in SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares in the last quarter. Procyon Advisors LLC lifted its position in shares of SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after purchasing an additional 1,000 shares in the last quarter. Game Plan Financial Advisors LLC lifted its position in shares of SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of SoFi Technologies by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 128,661 shares of the company’s stock worth $1,011,000 after buying an additional 1,319 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on SOFI. UBS Group lifted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was 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 of the company’s stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,905 shares of company stock worth $1,308,075. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $12.87 on Monday. The business’s fifty day moving average is $14.67 and its 200 day moving average is $13.05. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The firm has a market cap of $14.11 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the company earned $0.04 earnings per share. Research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.