Freestone Capital Holdings LLC Buys New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Freestone Capital Holdings LLC purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 1st quarter, Holdings Channel.com reports. The fund purchased 64,350 shares of the company’s stock, valued at approximately $470,000.

Other large investors have also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in shares of SoFi Technologies by 20.9% during the fourth quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock worth $28,398,000 after acquiring an additional 493,707 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of 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 worth $78,601,000 after acquiring an additional 6,870,610 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of SoFi Technologies in the fourth quarter worth $38,595,000. Level Four Advisory Services LLC increased its stake in shares of SoFi Technologies by 40.1% in the fourth quarter. Level Four Advisory Services LLC now owns 28,064 shares of the company’s stock worth $279,000 after buying an additional 8,039 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of SoFi Technologies by 384.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 142,534 shares of the company’s stock worth $1,418,000 after buying an additional 113,100 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Anthony Noto purchased 28,775 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Anthony Noto purchased 28,775 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the transaction, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Insiders have bought a total of 88,390 shares of company stock worth $597,569 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 1.7 %

Shares of SOFI stock traded up $0.12 during mid-day trading on Friday, reaching $7.39. 23,961,426 shares of the company’s stock traded hands, compared to its average volume of 46,534,094. SoFi Technologies, Inc. has a 12 month low of $6.15 and a 12 month high of $11.70. The company has a market cap of $7.81 billion, a P/E ratio of -23.55, a P/E/G ratio of 1.65 and a beta of 1.70. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $6.86 and its 200-day moving average price is $7.39.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. During the same quarter in the previous year, the business posted ($0.05) EPS. The company’s quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BTIG Research assumed coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Deutsche Bank Aktiengesellschaft decreased their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. 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 note on Tuesday, July 9th. Wedbush reaffirmed an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $9.44.

About SoFi Technologies

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.