Nations Financial Group Inc. IA ADV Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Nations Financial Group Inc. IA ADV bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 296,172 shares of the company’s stock, valued at approximately $4,561,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hanseatic Management Services Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $1,116,000. Kercheville Advisors LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $1,594,000. Charles Schwab Investment Management Inc. increased its position in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares during the period. Zacks Investment Management acquired a new position in SoFi Technologies in the 3rd quarter valued at about $3,766,000. Finally, Citizens Financial Group Inc. RI increased its position in SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after acquiring an additional 70,603 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $16.21 on Friday. The business’s 50 day simple moving average is $15.69 and its 200-day simple moving average is $11.88. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 43.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 period last year, the company posted $0.04 EPS. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on SOFI shares. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. UBS Group boosted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Barclays boosted their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, Mizuho boosted their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Four research 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. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average target price of $12.50.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,008,870 shares of company stock valued at $416,950,073. 2.60% of the stock is owned by corporate 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.