SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by Kovack Advisors Inc.

Kovack Advisors Inc. increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 125,315 shares of the company’s stock after buying an additional 7,502 shares during the period. Kovack Advisors Inc.’s holdings in SoFi Technologies were worth $915,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital raised its stake in SoFi Technologies by 13.2% in the fourth 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 in the last quarter. CIBC Private Wealth Group LLC increased its holdings in shares of SoFi Technologies by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after acquiring an additional 1,498 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares in the last quarter. EP Wealth Advisors LLC lifted its stake in SoFi Technologies by 0.4% during the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock worth $3,751,000 after purchasing an additional 1,508 shares during the last quarter. Finally, River Street Advisors LLC boosted its holdings in SoFi Technologies by 4.5% in the fourth quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock valued at $352,000 after purchasing an additional 1,526 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling

In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of SoFi Technologies stock in a transaction on Thursday, May 23rd. The stock was bought at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the acquisition, the chief executive officer now owns 8,062,269 shares in the company, valued at $55,790,901.48. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Anthony Noto bought 28,900 shares of the stock in a transaction on Thursday, May 23rd. The shares were bought at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the transaction, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. Insiders have acquired 88,390 shares of company stock valued at $597,569 over the last quarter. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on SOFI. Jefferies Financial Group cut their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Citigroup assumed coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 price target for the company. Needham & Company LLC restated a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday. Deutsche Bank Aktiengesellschaft cut their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research report on Tuesday, April 30th. Finally, BTIG Research assumed coverage on SoFi Technologies in a research report on Friday, June 7th. They issued a “neutral” rating for the company. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $9.32.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $6.52 on Friday. The firm has a market cap of $6.89 billion, a price-to-earnings ratio of -21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. SoFi Technologies, Inc. has a 1-year low of $6.20 and a 1-year high of $11.70. The firm’s fifty day moving average price is $6.86 and its 200 day moving average price is $7.64.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

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.