Moors & Cabot Inc. Has $6.71 Million Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Moors & Cabot Inc. boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 11.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 853,690 shares of the company's stock after buying an additional 86,025 shares during the period. Moors & Cabot Inc. owned 0.08% of SoFi Technologies worth $6,710,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Mount Lucas Management LP acquired a new stake in SoFi Technologies during the 3rd quarter worth about $920,000. Consolidated Investment Group LLC increased its holdings in shares of SoFi Technologies by 119.0% during the 3rd quarter. Consolidated Investment Group LLC now owns 138,000 shares of the company's stock worth $1,085,000 after buying an additional 75,000 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings in SoFi Technologies by 4,252.8% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company's stock valued at $585,000 after purchasing an additional 86,545 shares during the last quarter. SpiderRock Advisors LLC increased its holdings in SoFi Technologies by 98.2% in the 3rd quarter. SpiderRock Advisors LLC now owns 251,246 shares of the company's stock valued at $1,975,000 after purchasing an additional 124,500 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in SoFi Technologies by 64.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company's stock valued at $1,948,000 after purchasing an additional 115,316 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company's stock, valued at $830,594.82. This represents a 17.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on SOFI. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday, October 30th. Mizuho boosted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and an average price target of $9.80.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock traded up $0.25 on Wednesday, hitting $14.67. The company had a trading volume of 45,425,557 shares, compared to its average volume of 47,542,398. The business has a 50-day simple moving average of $10.13 and a 200-day simple moving average of $8.10. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market cap of $15.92 billion, a PE ratio of 146.70, a PEG ratio of 2.27 and a beta of 1.60. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $14.89.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same period in the prior year, the business earned ($0.03) earnings per share. The business's quarterly revenue was up 29.8% on a year-over-year basis. Research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.