Cannon Global Investment Management LLC Purchases Shares of 35,000 SoFi Technologies, Inc. (NASDAQ:SOFI)

Cannon Global Investment Management LLC purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, Holdings Channel.com reports. The firm purchased 35,000 shares of the company’s stock, valued at approximately $539,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies during the 4th quarter valued at $27,000. Hollencrest Capital Management bought a new position in SoFi Technologies during the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC grew its position in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC bought a new position in SoFi Technologies during the 4th quarter worth approximately $38,000. Finally, Brooklyn Investment Group bought a new position in SoFi Technologies during the 3rd quarter worth approximately $28,000. Institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the transaction, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,905 shares of company stock valued at $1,308,075. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $12.87 on Monday. 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. The company’s fifty day moving average price is $14.67 and its 200-day moving average price is $13.05. The stock has a market cap of $14.11 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the company posted $0.04 EPS. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on SOFI shares. Bank of America restated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus 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.