Moors & Cabot Inc. Has $6.71 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Moors & Cabot Inc. boosted its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.2% during the third quarter, Holdings Channel reports. The institutional investor owned 853,690 shares of the company’s stock after purchasing an additional 86,025 shares during the quarter. Moors & Cabot Inc.’s holdings in SoFi Technologies were worth $6,710,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SOFI. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the 3rd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its position in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the last quarter. GAMMA Investing LLC raised its position in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after buying an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies in the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Trading Up 0.6 %

Shares of SOFI traded up $0.09 during trading hours on Wednesday, hitting $14.51. The company had a trading volume of 9,779,187 shares, compared to its average volume of 47,371,270. The firm has a market cap of $15.75 billion, a P/E ratio of 144.20, a P/E/G ratio of 2.27 and a beta of 1.60. The stock’s 50 day moving average price is $9.98 and its 200 day moving average price is $8.05. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $14.89.

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday. Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, Barclays upped their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus price target of $9.80.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock valued at $904,677 over the last ninety days. 2.60% of the stock is owned by 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.