Moors & Cabot Inc. Has $6.71 Million Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Moors & Cabot Inc. boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 853,690 shares of the company’s stock after acquiring an additional 86,025 shares during the quarter. Moors & Cabot Inc. owned 0.08% of SoFi Technologies worth $6,710,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of SOFI. Dimensional Fund Advisors LP lifted its holdings in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after buying an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after buying an additional 2,688,847 shares during the last quarter. Mizuho Markets Americas LLC lifted its holdings in shares of SoFi Technologies by 403.4% during the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after buying an additional 2,440,745 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after buying an additional 1,366,271 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on SOFI shares. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays raised their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC raised their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, The Goldman Sachs Group raised their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $9.80.

SoFi Technologies Stock Performance

Shares of SOFI traded up $0.09 on Wednesday, reaching $14.51. 9,779,187 shares of the stock traded hands, compared to its average volume of 47,371,270. The firm has a market cap of $15.75 billion, a price-to-earnings ratio of 144.20, a P/E/G ratio of 2.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $14.89. The stock’s 50-day moving average price is $9.98 and its 200-day moving average price is $8.05.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was 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 owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is currently owned by corporate 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.