Cannon Global Investment Management LLC Makes New $539,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cannon Global Investment Management LLC purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 35,000 shares of the company's stock, valued at approximately $539,000.

A number of other hedge funds have also recently added to or reduced their stakes in SOFI. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies during the 4th quarter worth approximately $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies during the third quarter valued at approximately $28,000. Hollencrest Capital Management bought a new stake in SoFi Technologies during the fourth quarter worth $31,000. FNY Investment Advisers LLC raised its position in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC bought a new position in SoFi Technologies during the 4th quarter valued at $38,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Citigroup increased their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. UBS Group boosted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC boosted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $12.50.

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SoFi Technologies Stock Performance

SoFi Technologies stock traded down $0.18 during mid-day trading on Tuesday, reaching $13.54. The company's stock had a trading volume of 35,490,088 shares, compared to its average volume of 46,411,730. The firm's fifty day moving average price is $14.66 and its two-hundred day moving average price is $13.10. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a market capitalization of $14.85 billion, a P/E ratio of 36.59, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm earned $0.04 earnings per share. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 9,185 shares of the company's stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is currently owned by corporate insiders.

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.