Pegasus Asset Management Inc. Boosts Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Pegasus Asset Management Inc. raised its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 114,388 shares of the company’s stock after acquiring an additional 1,437 shares during the quarter. Pegasus Asset Management Inc.’s holdings in SoFi Technologies were worth $1,762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies in the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. FNY Investment Advisers LLC raised its position in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the period. Waldron Private Wealth LLC acquired a new position in SoFi Technologies in the third quarter valued at approximately $39,000. Finally, SouthState Corp purchased a new position in SoFi Technologies in the third quarter worth approximately $67,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction dated 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 acquisition, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 25,999,280 shares of company stock worth $416,810,442 in the last three months. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI opened at $16.83 on Wednesday. The company’s 50 day simple moving average is $15.73 and its 200-day simple moving average is $12.08. The firm has a market cap of $18.26 billion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 2.34 and a beta of 1.77. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the company posted $0.04 EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOFI. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Citigroup upped their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Bank of America reiterated an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Mizuho raised their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.50.

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.