SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by Spire Wealth Management

Spire Wealth Management raised its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 79,376 shares of the company’s stock after acquiring an additional 5,594 shares during the period. Spire Wealth Management’s holdings in SoFi Technologies were worth $1,222,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. CMG Global Holdings LLC acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $1,216,000. OLD National Bancorp IN bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $209,000. R Squared Ltd bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $127,000. Mayflower Financial Advisors LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $209,000. Finally, Prospect Financial Services LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $180,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 2.4 %

SoFi Technologies stock opened at $15.40 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market cap of $16.71 billion, a price-to-earnings ratio of 41.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.78. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The firm’s 50 day moving average price is $15.84 and its two-hundred day moving average price is $11.45.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the business posted $0.04 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.28 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 9,590 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley lifted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Company 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.