Wealthcare Advisory Partners LLC Purchases 9,283 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Wealthcare Advisory Partners LLC increased its position in SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) by 53.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,666 shares of the company’s stock after acquiring an additional 9,283 shares during the period. Wealthcare Advisory Partners LLC’s holdings in SoFi Technologies were worth $195,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of SOFI. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth $27,000. Westside Investment Management Inc. grew its holdings in shares of 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 acquiring an additional 1,500 shares during the period. SOA Wealth Advisors LLC. grew its holdings in shares of SoFi Technologies by 61.2% in the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after acquiring an additional 1,713 shares during the period. Future Financial Wealth Managment LLC bought a new stake in shares of SoFi Technologies in the first quarter worth $37,000. Finally, Tortoise Investment Management LLC bought a new stake in SoFi Technologies during the fourth quarter valued at about $39,000. Institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

SOFI has been the subject of several recent research reports. Wedbush reissued an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a report on Tuesday, April 30th. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. Deutsche Bank Aktiengesellschaft cut their price target on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a report on Tuesday, April 30th. BTIG Research initiated coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating for the company. Finally, Jefferies Financial Group cut their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $9.32.

View Our Latest Stock Analysis on SOFI

Insiders Place Their Bets

In related news, CEO Anthony Noto acquired 28,775 shares of SoFi Technologies stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony Noto bought 28,775 shares of the business’s stock in a transaction dated Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. Insiders have purchased 88,390 shares of company stock valued at $597,569 over the last ninety days. 2.60% of the stock is owned by insiders.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $6.43 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $6.80 billion, a P/E ratio of -20.74, a P/E/G ratio of 1.53 and a beta of 1.70. SoFi Technologies, Inc. has a 12 month low of $6.20 and a 12 month high of $11.70. The business’s 50-day moving average is $6.92 and its 200 day moving average is $7.67.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. During the same period in the previous year, the firm posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

About SoFi Technologies

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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