280,940 Shares of SoFi Technologies, Inc. $SOFI Purchased by Trek Financial LLC

Trek Financial LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 280,940 shares of the company’s stock, valued at approximately $4,416,000.

Several other institutional investors have also modified their holdings of the business. BlackRock Inc. acquired a new position in SoFi Technologies during the second quarter worth approximately $1,298,925,000. Bank of America Corp DE acquired a new position in SoFi Technologies in the 2nd quarter valued at about $163,808,000. Dimensional Fund Advisors LP lifted its position in SoFi Technologies by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock worth $144,539,000 after acquiring an additional 359,785 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of SoFi Technologies during the second quarter worth approximately $93,937,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of SoFi Technologies by 2.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,689,426 shares of the company’s stock worth $90,348,000 after purchasing an additional 156,218 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 18,624 shares of the firm’s stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $17.50, for a total value of $325,920.00. Following the completion of the sale, the chief technology officer directly owned 912,650 shares in the company, valued at approximately $15,971,375. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 10,203 shares of SoFi Technologies stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $14.72, for a total value of $150,188.16. Following the sale, the executive vice president directly owned 397,870 shares of the company’s stock, valued at $5,856,646.40. This represents a 2.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 50,316 shares of company stock worth $852,605. 2.50% of the stock is currently owned by insiders.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $16.76 on Monday. SoFi Technologies, Inc. has a 52 week low of $13.86 and a 52 week high of $32.73. The business has a 50 day simple moving average of $16.58 and a 200 day simple moving average of $17.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The stock has a market cap of $21.65 billion, a price-to-earnings ratio of 30.47, a PEG ratio of 1.05 and a beta of 2.25.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 27th. The company reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. The business had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.25 billion. SoFi Technologies had a return on equity of 6.89% and a net margin of 15.60%. SoFi Technologies’s revenue was up 44.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.11 earnings per share. On average, research analysts predict that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of analyst reports. Wells Fargo & Company reiterated a “negative” rating on shares of SoFi Technologies in a report on Wednesday. Weiss Ratings upgraded SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Monness Crespi & Hardt began coverage on SoFi Technologies in a report on Monday, October 26th. They set a “buy” rating and a $20.00 price objective on the stock. Bank of America reaffirmed an “underperform” rating and issued a $16.50 price objective on shares of SoFi Technologies in a research report on Wednesday. Finally, The Goldman Sachs Group set a $15.00 target price on SoFi Technologies in a research report on Tuesday, October 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $21.23.

SoFi Technologies Profile

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.