Ring Mountain Capital LLC Makes New $159,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Ring Mountain Capital LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 10,329 shares of the company’s stock, valued at approximately $159,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Hanseatic Management Services Inc. acquired a new position in shares of SoFi Technologies during the fourth quarter valued at $1,116,000. SBI Securities Co. Ltd. acquired a new position in shares of SoFi Technologies during the fourth quarter valued at $3,703,000. Kercheville Advisors LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at about $1,594,000. Charles Schwab Investment Management Inc. raised its stake in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Finally, Zacks Investment Management bought a new stake in shares of SoFi Technologies during the third quarter valued at about $3,766,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,249,912 shares of company stock valued at $388,709,806. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SOFI has been the topic of a number of recent analyst reports. Mizuho lifted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Morgan Stanley lifted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, UBS Group lifted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $12.50.

SoFi Technologies Trading Down 6.2 %

NASDAQ:SOFI opened at $13.57 on Tuesday. 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 fifty-two week low of $6.01 and a fifty-two week high of $18.42. The stock’s 50-day moving average is $15.50 and its two-hundred day moving average is $12.59. The stock has a market cap of $14.88 billion, a PE ratio of 36.68, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the firm posted $0.04 EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share 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.