Kesler Norman & Wride LLC Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kesler Norman & Wride LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 11,000 shares of the company’s stock, valued at approximately $80,000.

Several other hedge funds have also recently bought and sold shares of the stock. GAMMA Investing LLC bought a new stake in SoFi Technologies in the 4th quarter valued at approximately $27,000. Westside Investment Management Inc. raised its stake 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 purchasing an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of SoFi Technologies by 61.2% during the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at approximately $37,000. Finally, Tortoise Investment Management LLC bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $39,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have issued reports on SOFI. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Tuesday. Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their target price for the stock from $6.50 to $7.50 in a research note on Friday, April 5th. BTIG Research assumed coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Deutsche Bank Aktiengesellschaft dropped their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. Finally, Jefferies Financial Group lowered their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $9.32.

SoFi Technologies Trading Down 1.1 %

Shares of SOFI stock traded down $0.07 during trading hours on Friday, hitting $6.45. 2,809,281 shares of the company’s stock traded hands, compared to its average volume of 47,076,176. The stock has a market cap of $6.82 billion, a PE ratio of -21.03, a price-to-earnings-growth ratio of 1.51 and a beta of 1.70. SoFi Technologies, Inc. has a 12 month low of $6.20 and a 12 month high of $11.70. The stock’s 50 day simple moving average is $6.86 and its 200 day simple moving average is $7.64. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results 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. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The business had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. During the same quarter in the prior year, the firm posted ($0.05) EPS. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto purchased 28,775 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Anthony Noto acquired 28,775 shares of SoFi Technologies stock in a transaction on Friday, May 3rd. The stock was purchased at an average price of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. Insiders have acquired a total of 88,390 shares of company stock worth $597,569 in the last 90 days. Corporate insiders own 2.60% 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.