Mount Lucas Management LP Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Mount Lucas Management LP bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 117,000 shares of the company’s stock, valued at approximately $920,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. CIBC Asset Management Inc boosted its holdings in shares of SoFi Technologies by 3.5% in the 3rd 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 in the last quarter. Oak Harbor Wealth Partners LLC boosted its holdings in shares of SoFi Technologies by 10.0% in the 3rd 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 in the last quarter. Stratos Wealth Advisors LLC boosted its holdings in shares of SoFi Technologies by 3.3% in the 3rd 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 in the last quarter. NBC Securities Inc. boosted its holdings in shares of SoFi Technologies by 12.7% in the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after buying an additional 1,081 shares in the last quarter. Finally, Rosenberg Matthew Hamilton boosted its holdings in shares of SoFi Technologies by 11.4% in the 3rd quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after buying an additional 1,226 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 17.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 111,636 shares of company stock valued at $904,677 in the last 90 days. 2.60% of the stock is owned by insiders.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $13.63 on Friday. The company’s fifty day moving average price is $9.70 and its 200 day moving average price is $7.94. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $14.44. The stock has a market capitalization of $14.53 billion, a P/E ratio of 136.31, a P/E/G ratio of 2.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company earned ($0.03) EPS. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SOFI. Barclays raised their price target on shares of 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 increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $9.32.

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.