Steele Capital Management Inc. Buys Shares of 10,750 SoFi Technologies, Inc. (NASDAQ:SOFI)

Steele Capital Management Inc. purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 10,750 shares of the company’s stock, valued at approximately $107,000.

Several other hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in SoFi Technologies during the 4th quarter worth about $27,000. Westside Investment Management Inc. lifted its position in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the last quarter. CNB Bank purchased a new position in SoFi Technologies in the fourth quarter valued at $50,000. Fortitude Family Office LLC acquired a new position in SoFi Technologies in the fourth quarter valued at $60,000. Finally, NBC Securities Inc. purchased a new stake in shares of SoFi Technologies in the third quarter valued at about $61,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s 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 transaction, the chief technology officer now owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 4.7 %

NASDAQ SOFI traded down $0.33 on Tuesday, hitting $6.72. 47,624,393 shares of the stock traded hands, compared to its average volume of 53,822,848. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $6.56 billion, a P/E ratio of -17.79 and a beta of 1.75. The stock has a 50-day moving average of $7.61 and a 200 day moving average of $7.88.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. SoFi Technologies’s revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.05) earnings per share. As a group, analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SOFI has been the topic of several analyst reports. The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Morgan Stanley reaffirmed an “underweight” rating and issued a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Citigroup began coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday. 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 equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.08.

SoFi Technologies 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.