Alta Wealth Advisors LLC Purchases Shares of 65,969 SoFi Technologies, Inc. $SOFI

Alta Wealth Advisors LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 65,969 shares of the company’s stock, valued at approximately $1,743,000.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in SoFi Technologies by 0.8% in the 2nd quarter. Vanguard Group Inc. now owns 100,287,485 shares of the company’s stock valued at $1,826,235,000 after acquiring an additional 820,190 shares in the last quarter. Norges Bank bought a new stake in shares of SoFi Technologies in the second quarter valued at about $164,068,000. Marshall Wace LLP boosted its position in shares of SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after buying an additional 3,748,817 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of SoFi Technologies by 2.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 6,628,309 shares of the company’s stock worth $120,702,000 after buying an additional 155,583 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its holdings in shares of SoFi Technologies by 87.1% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 6,361,809 shares of the company’s stock worth $168,079,000 after buying an additional 2,961,849 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Mizuho set a $38.00 target price on SoFi Technologies in a research note on Thursday, October 30th. Citigroup boosted their price objective on shares of SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a report on Thursday. JPMorgan Chase & Co. raised their target price on shares of SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Jefferies Financial Group reissued a “buy” rating and set a $35.00 price target on shares of SoFi Technologies in a research report on Tuesday, October 28th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $25.50.

SoFi Technologies Stock Down 0.2%

Shares of SOFI stock opened at $25.80 on Tuesday. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.73. The stock has a market cap of $31.11 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.62 and a beta of 1.92. The firm’s 50-day moving average is $27.07 and its 200-day moving average is $26.26. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.SoFi Technologies’s quarterly revenue was up 37.7% on a year-over-year basis. During the same quarter last year, the company posted $0.05 earnings per share. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, insider Arun Pinto sold 46,132 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the sale, the insider owned 138,396 shares in the company, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,468 shares of SoFi Technologies stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $25.75, for a total transaction of $243,801.00. Following the transaction, the executive vice president directly owned 303,480 shares of the company’s stock, valued at approximately $7,814,610. This trade represents a 3.03% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 167,245 shares of company stock valued at $4,362,815 over the last three months. Insiders own 2.60% of the company’s stock.

SoFi Technologies Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.