Moors & Cabot Inc. Has $5.07 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Moors & Cabot Inc. lessened its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.0% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 767,665 shares of the company’s stock after selling 15,825 shares during the period. Moors & Cabot Inc. owned approximately 0.07% of SoFi Technologies worth $5,074,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares during the last quarter. Norges Bank acquired a new stake in SoFi Technologies during the fourth quarter worth about $71,349,000. Sumitomo Mitsui Trust Holdings Inc. increased its stake in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after acquiring an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after acquiring an additional 6,870,610 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in SoFi Technologies by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Analyst Ratings Changes

SOFI has been the topic of a number of research reports. BTIG Research initiated coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Needham & Company LLC reissued a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Keefe, Bruyette & Woods reduced their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Finally, Barclays decreased their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Price Performance

Shares of SOFI opened at $8.06 on Tuesday. The stock has a market cap of $8.52 billion, a P/E ratio of -26.00, a price-to-earnings-growth ratio of 1.48 and a beta of 1.70. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $10.49. The stock’s 50-day moving average price is $7.23 and its two-hundred day moving average price is $7.14. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. SoFi Technologies’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the company posted ($0.06) EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The disclosure for this sale can be found here. 2.60% of the stock is owned by company insiders.

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.