KLCM Advisors Inc. Buys Shares of 24,500 SoFi Technologies, Inc. (NASDAQ:SOFI)

KLCM Advisors Inc. purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 24,500 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in SOFI. Moneta Group Investment Advisors LLC bought a new stake in shares of SoFi Technologies during the fourth quarter worth about $83,643,000. Norges Bank acquired a new position in shares of SoFi Technologies in the fourth quarter worth approximately $44,799,000. State Street Corp lifted its stake in shares of SoFi Technologies by 76.6% in the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock worth $61,590,000 after acquiring an additional 5,068,034 shares during the period. Vanguard Group Inc. lifted its stake in shares of SoFi Technologies by 7.8% in the third quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock worth $326,027,000 after acquiring an additional 4,846,633 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of SoFi Technologies by 241.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock worth $38,772,000 after acquiring an additional 2,755,197 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.70% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent analyst reports. Mizuho cut their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Thursday, January 18th. Wedbush reaffirmed an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Wednesday, March 6th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Needham & Company LLC started coverage on SoFi Technologies in a research note on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price objective on the stock. Finally, Jefferies Financial Group dropped their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Down 0.6 %

Shares of NASDAQ:SOFI opened at $7.16 on Thursday. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The stock’s 50 day moving average is $7.76 and its 200-day moving average is $7.91.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. SoFi Technologies’s revenue was up 34.7% compared to the same quarter last year. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

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.