Pegasus Asset Management Inc. Acquires 9,359 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Pegasus Asset Management Inc. lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,344 shares of the company’s stock after purchasing an additional 9,359 shares during the period. Pegasus Asset Management Inc.’s holdings in SoFi Technologies were worth $736,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new position in shares of SoFi Technologies during the 4th quarter worth about $27,000. ORG Partners LLC bought a new position in shares of SoFi Technologies in the first quarter valued at $27,000. Tortoise Investment Management LLC bought a new position in shares of SoFi Technologies in the fourth quarter valued at $39,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of SoFi Technologies in the fourth quarter valued at $40,000. Finally, Jones Financial Companies Lllp bought a new position in shares of SoFi Technologies in the fourth quarter valued at $44,000. Institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Barclays dropped their price objective on 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. Finally, BTIG Research started coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI traded up $0.15 during mid-day trading on Monday, reaching $7.67. The company had a trading volume of 31,304,295 shares, compared to its average volume of 46,127,828. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm has a market cap of $8.11 billion, a price-to-earnings ratio of -24.74, a PEG ratio of 1.45 and a beta of 1.70. The company’s 50-day moving average price is $6.88 and its 200-day moving average price is $7.24. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. SoFi Technologies’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $6.78, for a total transaction of $134,515,694.94. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, 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. Insiders have sold 19,921,285 shares of company stock valued at $135,057,462 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

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.