Newbridge Financial Services Group Inc. Raises Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Newbridge Financial Services Group Inc. lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) by 14.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 169,043 shares of the company’s stock after acquiring an additional 21,041 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in SoFi Technologies were worth $891,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Riverwood Capital Management Ltd. bought a new position in SoFi Technologies during the first quarter valued at $207,873,000. State Street Corp boosted its holdings in shares of SoFi Technologies by 222.0% in the fourth quarter. State Street Corp now owns 5,929,036 shares of the company’s stock worth $93,738,000 after acquiring an additional 4,087,917 shares during the period. Banco BTG Pactual S.A. bought a new position in shares of SoFi Technologies in the first quarter worth $18,467,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of SoFi Technologies by 2,626.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,440,932 shares of the company’s stock worth $13,616,000 after acquiring an additional 1,388,088 shares during the period. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of SoFi Technologies by 1,528.8% in the first quarter. Ensign Peak Advisors Inc now owns 1,163,386 shares of the company’s stock worth $10,994,000 after acquiring an additional 1,091,961 shares during the period. 38.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at SoFi Technologies

In related news, major shareholder Group Corp Softbank sold 6,683,133 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $8.17, for a total transaction of $54,601,196.61. Following the transaction, the insider now owns 83,216,977 shares in the company, valued at approximately $679,882,702.09. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 13.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Mizuho raised their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Credit Suisse Group lifted their price objective on SoFi Technologies from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Bank Of America (Bofa) raised SoFi Technologies from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $8.00 to $9.00 in a research note on Wednesday, September 14th. Morgan Stanley lifted their price objective on SoFi Technologies from $7.00 to $7.50 and gave the company an “equal weight” rating in a research note on Thursday, August 25th. Finally, Piper Sandler dropped their price objective on SoFi Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $13.36.

SoFi Technologies Trading Down 2.4 %

Shares of SOFI traded down $0.13 during trading hours on Friday, hitting $5.23. The company had a trading volume of 828,109 shares, compared to its average volume of 38,782,848. The firm has a market cap of $4.79 billion, a P/E ratio of -11.35 and a beta of 1.53. The stock’s 50 day moving average price is $6.53 and its 200 day moving average price is $6.96. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. SoFi Technologies, Inc. has a 52-week low of $4.82 and a 52-week high of $24.65.

SoFi Technologies (NASDAQ:SOFIGet Rating) last released its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The firm had revenue of $362.53 million for the quarter, compared to the consensus estimate of $346.39 million. SoFi Technologies had a negative return on equity of 7.30% and a negative net margin of 27.19%. On average, research analysts predict that SoFi Technologies, Inc. will post -0.45 EPS for the current year.

About SoFi Technologies

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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