West Michigan Advisors LLC Purchases New Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

West Michigan Advisors LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,438 shares of the company’s stock, valued at approximately $284,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. QRG Capital Management Inc. boosted its stake in shares of SoFi Technologies by 9.7% during the 4th quarter. QRG Capital Management Inc. now owns 280,791 shares of the company’s stock valued at $4,324,000 after buying an additional 24,713 shares during the last quarter. Proficio Capital Partners LLC bought a new position in SoFi Technologies during the 4th quarter valued at $513,000. Oppenheimer & Co. Inc. boosted its stake in SoFi Technologies by 47.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company’s stock valued at $5,628,000 after acquiring an additional 118,288 shares during the last quarter. Nwam LLC grew its holdings in SoFi Technologies by 11.3% during the 4th quarter. Nwam LLC now owns 44,635 shares of the company’s stock worth $687,000 after acquiring an additional 4,531 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of SoFi Technologies by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company’s stock valued at $49,640,000 after purchasing an additional 8,218 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now owns 482,083 shares in the company, valued at approximately $7,742,252.98. This trade represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,008,465 shares of company stock valued at $416,952,167. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SOFI. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group upped their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, UBS Group increased their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $14.47 on Friday. The firm’s 50 day moving average is $15.54 and its two-hundred day moving average is $12.50. The firm has a market capitalization of $15.70 billion, a P/E ratio of 39.11, a PEG ratio of 2.24 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 EPS 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 period in the previous year, the company posted $0.04 EPS. Analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.