Xcel Wealth Management LLC Grows Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Xcel Wealth Management LLC raised its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 72,020 shares of the company’s stock after acquiring an additional 4,000 shares during the quarter. Xcel Wealth Management LLC’s holdings in SoFi Technologies were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC purchased a new stake in SoFi Technologies in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its holdings in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth $37,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies in the 3rd quarter worth $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,328 shares of company stock worth $808,246 over the last three months. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Up 1.2 %

NASDAQ:SOFI traded up $0.13 on Tuesday, reaching $10.53. 20,093,746 shares of the stock traded hands, compared to its average volume of 45,761,758. The company has a market capitalization of $11.13 billion, a price-to-earnings ratio of -33.90, a PEG ratio of 1.72 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $10.57. The company’s fifty day simple moving average is $7.99 and its 200 day simple moving average is $7.35.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm had revenue of $598.60 million during the quarter, compared to analyst estimates of $565.19 million. During the same period in the previous year, the business posted ($0.06) earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on SOFI. Barclays reduced their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Keefe, Bruyette & Woods cut their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $9.25.

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.