Coordinated Financial Services Inc. Takes $387,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Coordinated Financial Services Inc. purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 25,100 shares of the company’s stock, valued at approximately $387,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Amundi increased its position in shares of SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after buying an additional 2,700,543 shares during the period. PNC Financial Services Group Inc. increased its position in shares of SoFi Technologies by 7.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 24,013 shares of the company’s stock valued at $370,000 after buying an additional 1,740 shares during the period. Vestmark Advisory Solutions Inc. increased its position in shares of SoFi Technologies by 24.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 290,992 shares of the company’s stock valued at $4,481,000 after buying an additional 57,571 shares during the period. Raymond James Financial Inc. bought a new stake in shares of SoFi Technologies during the fourth quarter valued at about $14,479,000. Finally, Arizona State Retirement System increased its position in shares of SoFi Technologies by 1.6% during the fourth quarter. Arizona State Retirement System now owns 293,794 shares of the company’s stock valued at $4,524,000 after buying an additional 4,596 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Bashir Ruzwana sold 52,000 shares of the firm’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 144,004 shares of company stock valued at $2,292,100. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SOFI. Morgan Stanley upped their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, JPMorgan Chase & Co. upped their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $12.59 on Friday. The firm has a market cap of $13.81 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The business has a 50 day moving average price of $15.24 and a 200-day moving average price of $12.71.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. 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 3.82% and a net margin of 18.64%. During the same quarter last year, the firm earned $0.04 earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share 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.