Connective Portfolio Management LLC Invests $464,000 in SoFi Technologies, Inc. (NASDAQ:SOFI)

Connective Portfolio Management LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 30,120 shares of the company's stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC lifted its position in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after purchasing an additional 1,905 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in SoFi Technologies in the 3rd quarter valued at approximately $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies during the third quarter worth $28,000. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth about $39,000. Finally, AdvisorNet Financial Inc grew its position in SoFi Technologies by 63.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company's stock worth $84,000 after acquiring an additional 2,130 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded up $0.80 on Thursday, hitting $16.31. The stock had a trading volume of 34,569,469 shares, compared to its average volume of 38,996,211. The company has a market capitalization of $17.69 billion, a price-to-earnings ratio of 163.04, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The firm's 50 day moving average price is $15.16 and its 200-day moving average price is $10.52. 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 twelve month low of $6.01 and a twelve month high of $17.19.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. 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 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million during the quarter, compared to analysts' expectations of $631.59 million. During the same period last year, the firm posted ($0.03) EPS. The business's revenue was up 29.8% on a year-over-year basis. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the sale, the director now directly owns 482,083 shares of the company's stock, valued at approximately $7,742,252.98. This represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. William Blair began coverage on shares of SoFi Technologies in a research report on Wednesday. They set an "outperform" rating on the stock. Morgan Stanley boosted their target price 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. Bank of America reissued an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. Finally, Citigroup increased their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and a consensus price target of $11.71.

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.