FORA Capital LLC Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

FORA Capital LLC purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the third quarter, according to its most recent filing with the SEC. The firm purchased 155,959 shares of the company’s stock, valued at approximately $1,226,000.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies during the 3rd quarter worth about $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies during the 3rd quarter worth about $28,000. Allspring Global Investments Holdings LLC grew its holdings in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC grew its holdings in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the period. Finally, Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $39,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $16.12 on Thursday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $16.16. The company’s 50 day moving average price is $10.74 and its two-hundred day moving average price is $8.34. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market cap of $17.49 billion, a P/E ratio of 161.22, a P/E/G ratio of 2.61 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping 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 firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter last year, the firm earned ($0.03) EPS. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on SOFI shares. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Jefferies Financial Group raised their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.80.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,287 shares of company stock valued at $863,250 in the last 90 days. 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.