Oak Harbor Wealth Partners LLC Acquires 1,000 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Oak Harbor Wealth Partners LLC boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.0% during the third quarter, Holdings Channel.com reports. The fund owned 11,000 shares of the company’s stock after buying an additional 1,000 shares during the quarter. Oak Harbor Wealth Partners LLC’s holdings in SoFi Technologies were worth $86,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Stratos Wealth Advisors LLC increased its position in shares of SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the last quarter. NBC Securities Inc. increased its position in shares of SoFi Technologies by 12.7% during the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after purchasing an additional 1,081 shares during the last quarter. Rosenberg Matthew Hamilton increased its position in shares of SoFi Technologies by 11.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after purchasing an additional 1,226 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of SoFi Technologies by 1.0% during the 3rd quarter. Victory Capital Management Inc. now owns 128,661 shares of the company’s stock valued at $1,011,000 after purchasing an additional 1,319 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 17.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 111,636 shares of company stock valued at $904,677. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 1.7 %

Shares of NASDAQ:SOFI opened at $13.63 on Friday. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $14.44. The firm has a market capitalization of $14.53 billion, a P/E ratio of 136.30, a P/E/G ratio of 2.25 and a beta of 1.60. The stock has a 50 day moving average price of $9.70 and a 200-day moving average price of $7.93. 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 announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) EPS. The business’s revenue 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 EPS for the current fiscal year.

Analyst Ratings Changes

SOFI has been the subject of several analyst reports. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC increased their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Finally, Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.32.

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.