Wealthfront Advisers LLC Grows Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Wealthfront Advisers LLC increased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 72.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 179,581 shares of the company’s stock after purchasing an additional 75,452 shares during the quarter. Wealthfront Advisers LLC’s holdings in SoFi Technologies were worth $2,766,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Miller Financial Services LLC acquired a new stake in SoFi Technologies during the 4th quarter valued at approximately $1,810,000. SPX Gestao de Recursos Ltda bought a new stake in shares of SoFi Technologies in the fourth quarter worth $1,540,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in SoFi Technologies by 20.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 276,890 shares of the company’s stock valued at $4,264,000 after acquiring an additional 46,063 shares in the last quarter. SLT Holdings LLC bought a new position in SoFi Technologies during the 4th quarter valued at $218,000. Finally, Coordinated Financial Services Inc. acquired a new position in SoFi Technologies during the 4th quarter worth $387,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 4.4 %

SoFi Technologies stock opened at $11.39 on Friday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. 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 capitalization of $12.49 billion, a PE ratio of 30.78, a PEG ratio of 2.24 and a beta of 1.79. The business’s 50-day simple moving average is $14.94 and its 200-day simple moving average is $12.78.

SoFi Technologies (NASDAQ:SOFI) last released its 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 posted $0.04 earnings per share. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Eric Schuppenhauer purchased 30,600 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,004 shares of company stock worth $1,459,060. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several research analyst reports. Citigroup increased their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group boosted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four 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 issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $12.50.

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.