Grange Capital LLC Invests $2 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

Grange Capital LLC purchased a new position 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 purchased 129,835 shares of the company’s stock, valued at approximately $1,999,000. SoFi Technologies comprises about 2.1% of Grange Capital LLC’s holdings, making the stock its 15th largest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in SOFI. Captrust Financial Advisors grew its position in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares in the last quarter. Summit Trail Advisors LLC lifted its position in shares of SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after purchasing an additional 855 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares in the last quarter. Oak Harbor Wealth Partners LLC lifted its position in shares of SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Procyon Advisors LLC lifted its position in shares of SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock worth $208,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Eric Schuppenhauer bought 30,600 shares of SoFi Technologies stock in a transaction on Monday, December 16th. The stock was bought at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SOFI has been the topic of several research reports. Jefferies Financial Group increased their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC increased their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Mizuho upped their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $11.71.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $17.92 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a fifty day moving average price of $15.71 and a 200 day moving average price of $11.02. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a market cap of $19.45 billion, a PE ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the company earned ($0.03) earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

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.