Spire Wealth Management Has $1.22 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Spire Wealth Management grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 79,376 shares of the company’s stock after purchasing 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 filing with the SEC.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies during the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies during the third quarter valued at about $28,000. FNY Investment Advisers LLC raised its position in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies during the third quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies during the third quarter valued at about $47,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

SOFI opened at $15.40 on Tuesday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company’s 50 day simple moving average is $15.84 and its 200-day simple moving average is $11.45. The stock has a market capitalization of $16.71 billion, a P/E ratio of 41.62, a price-to-earnings-growth ratio of 2.12 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating 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 company earned $0.04 EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley upped their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Citigroup upped their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, JPMorgan Chase & Co. upped their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.50.

Insider Activity

In related news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares in the company, valued at $7,742,252.98. This represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 over the last three months. 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.