Alta Wealth Advisors LLC Has $556,000 Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Alta Wealth Advisors LLC increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 33.6% in the third quarter, Holdings Channel.com reports. The institutional investor owned 70,719 shares of the company’s stock after buying an additional 17,770 shares during the period. Alta Wealth Advisors LLC’s holdings in SoFi Technologies were worth $556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its stake in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the period. GAMMA Investing LLC increased its holdings in SoFi Technologies by 65.3% in 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new position in SoFi Technologies in the first quarter valued at approximately $37,000. Finally, Blue Trust Inc. boosted its holdings in shares of SoFi Technologies by 783.5% during the 2nd quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock worth $59,000 after buying an additional 7,185 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 102,328 shares of company stock valued at $808,246 in the last three months. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $10.18 on Friday. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of -32.84, a PEG ratio of 1.72 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $10.49. The firm’s 50-day simple moving average is $7.92 and its 200 day simple moving average is $7.33.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. During the same quarter last year, the company earned ($0.06) earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods decreased their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Finally, Barclays cut their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $9.08.

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.