Maridea Wealth Management LLC Takes $802,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Maridea Wealth Management LLC purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, Holdings Channel.com reports. The firm purchased 52,096 shares of the company’s stock, valued at approximately $802,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SoFi Technologies in the fourth quarter worth approximately $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies in the 3rd quarter worth approximately $28,000. Hollencrest Capital Management purchased a new position in SoFi Technologies during the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC raised its stake in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the period. Finally, IAG Wealth Partners LLC purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at $38,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group upped their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Needham & Company LLC increased their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley boosted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

SOFI opened at $11.85 on Friday. 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 company has a market cap of $12.99 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The stock has a 50-day moving average of $14.42 and a 200-day moving average of $13.17. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the company earned $0.04 earnings per share. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is owned by 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.