Connective Portfolio Management LLC Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Connective Portfolio Management LLC purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 30,120 shares of the company’s stock, valued at approximately $464,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Captrust Financial Advisors boosted its position in SoFi Technologies by 2.8% in 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 last quarter. Summit Trail Advisors LLC boosted its holdings in shares of SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after buying an additional 855 shares during the last quarter. CIBC Asset Management Inc grew its position in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after buying an additional 962 shares during the period. Oak Harbor Wealth Partners LLC increased its holdings in SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the last quarter. Finally, Stratos Wealth Advisors LLC increased its holdings in SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SOFI shares. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. The Goldman Sachs Group upped their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, Jefferies Financial Group increased their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $11.71.

SoFi Technologies Trading Up 7.0 %

Shares of SOFI opened at $15.51 on Thursday. The firm has a market cap of $16.83 billion, a P/E ratio of 155.12, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. 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, Inc. has a 1 year low of $6.01 and a 1 year high of $17.19. The company has a 50 day simple moving average of $15.08 and a two-hundred day simple moving average of $10.49.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the sale, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. The trade was a 78.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 in the last 90 days. Insiders own 2.60% of the company’s stock.

SoFi Technologies 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.