Proficio Capital Partners LLC Takes $513,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Proficio Capital Partners LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 33,295 shares of the company's stock, valued at approximately $513,000.

A number of other hedge funds also recently modified their holdings of the stock. Captrust Financial Advisors lifted its position in SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock worth $233,000 after purchasing an additional 809 shares during the period. Summit Trail Advisors LLC lifted its holdings in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock worth $2,204,000 after acquiring an additional 855 shares during the period. CIBC Asset Management Inc boosted its position in shares of SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock worth $223,000 after acquiring an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC boosted its position in shares of SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company's stock worth $86,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Procyon Advisors LLC increased its stake in SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after acquiring an additional 1,000 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

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Analyst Ratings Changes

A number of equities research analysts have weighed in on SOFI shares. UBS Group raised their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Bank of America reissued an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Finally, William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average price target of $12.50.

Insider Buying and Selling

In other SoFi Technologies news, EVP Eric Schuppenhauer purchased 30,600 shares of the business's stock in a transaction on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares of the company's stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,004 shares of company stock valued at $2,292,100 over the last quarter. Insiders own 2.60% of the company's stock.

SoFi Technologies Trading Up 5.9 %

Shares of SoFi Technologies stock traded up $0.66 during trading on Wednesday, hitting $11.92. The company's stock had a trading volume of 53,958,853 shares, compared to its average volume of 47,227,719. The stock has a market cap of $13.07 billion, a price-to-earnings ratio of 32.22, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The stock has a 50-day moving average price of $15.00 and a two-hundred day moving average price of $12.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued 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 business earned $0.04 earnings per share. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 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.