KLCM Advisors Inc. Makes New $244,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

KLCM Advisors Inc. bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 24,500 shares of the company’s stock, valued at approximately $244,000.

Several other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 3.5% in the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after acquiring an additional 2,567,797 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of SoFi Technologies by 6.4% during the second quarter. BlackRock Inc. now owns 38,122,793 shares of the company’s stock valued at $317,944,000 after purchasing an additional 2,302,565 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new position in shares of SoFi Technologies during the fourth quarter valued at $83,643,000. State Street Corp lifted its holdings in shares of SoFi Technologies by 12.9% during the second quarter. State Street Corp now owns 13,680,519 shares of the company’s stock valued at $114,096,000 after purchasing an additional 1,567,782 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of SoFi Technologies by 4.2% during the first quarter. Geode Capital Management LLC now owns 12,051,675 shares of the company’s stock valued at $73,154,000 after purchasing an additional 484,530 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Trading Down 0.6 %

Shares of SOFI opened at $7.16 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The business has a 50-day simple moving average of $7.76 and a two-hundred day simple moving average of $7.91. SoFi Technologies, Inc. has a 52 week low of $4.45 and a 52 week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 29th. The company reported $0.02 EPS for the quarter. The business had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.05) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.70% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wedbush reaffirmed an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a report on Wednesday, March 6th. The Goldman Sachs Group upped their price target on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Jefferies Financial Group lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Mizuho reduced their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Finally, Keefe, Bruyette & Woods upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $9.08.

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.