Orion Capital Management LLC Raises Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Orion Capital Management LLC boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 66.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,000 shares of the company’s stock after buying an additional 2,000 shares during the quarter. Orion Capital Management LLC’s holdings in SoFi Technologies were worth $50,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in SoFi Technologies in the fourth quarter worth $27,000. Westside Investment Management Inc. grew its holdings in SoFi Technologies by 93.8% in the fourth 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 worth $50,000. Fortitude Family Office LLC purchased a new position in SoFi Technologies in the fourth quarter worth $60,000. Finally, Private Trust Co. NA grew its holdings in SoFi Technologies by 1,093.8% in the fourth quarter. Private Trust Co. NA now owns 7,640 shares of the company’s stock worth $76,000 after purchasing an additional 7,000 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $6.92 on Thursday. The firm’s 50 day moving average price is $7.58 and its 200-day moving average price is $7.87. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. SoFi Technologies, Inc. has a one year low of $4.45 and a one year high of $11.70.

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 company had revenue of $580.60 million for the quarter, compared to analyst estimates of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on SOFI. Jefferies Financial Group cut their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday. Morgan Stanley reiterated an “underweight” rating and set a $6.50 price objective (down from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Wedbush reiterated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday. Finally, Mizuho lowered their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $9.08.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.60% of the stock is owned by company insiders.

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.