Claro Advisors LLC Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Claro Advisors LLC grew its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,550 shares of the company’s stock after acquiring an additional 7,304 shares during the quarter. Claro Advisors LLC’s holdings in SoFi Technologies were worth $201,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies in the third quarter valued at $27,000. Allspring Global Investments Holdings LLC grew its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. GAMMA Investing LLC increased its position in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter valued at $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 17.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by company insiders.

SoFi Technologies Trading Up 3.5 %

Shares of NASDAQ:SOFI opened at $14.42 on Wednesday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $9.98 and its 200 day moving average price is $8.05. The company has a market cap of $15.65 billion, a PE ratio of 144.20, a P/E/G ratio of 2.27 and a beta of 1.60. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $14.44.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly 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 return on equity of 3.71% and a net margin of 8.38%. 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 posted ($0.03) earnings per share. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Mizuho upped their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays lifted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.80.

About SoFi Technologies

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.