SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by Wedmont Private Capital

Wedmont Private Capital boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 23.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 18,315 shares of the company’s stock after buying an additional 3,486 shares during the quarter. Wedmont Private Capital’s holdings in SoFi Technologies were worth $259,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares in the last quarter. Zacks Investment Management purchased a new stake in shares of SoFi Technologies during the third quarter valued at $3,766,000. Citizens Financial Group Inc. RI boosted its position in shares of 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 purchasing an additional 70,603 shares during the period. Connor Clark & Lunn Investment Management Ltd. increased its stake in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in SoFi Technologies during the 3rd quarter worth about $930,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

SOFI stock opened at $16.30 on Friday. The firm has a 50 day moving average of $15.16 and a two-hundred day moving average of $10.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $17.19. The company has a market capitalization of $17.69 billion, a price-to-earnings ratio of 163.02, a P/E/G ratio of 0.96 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the business posted ($0.03) earnings per share. The business’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOFI has been the subject of several recent analyst reports. Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. boosted 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. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday. Finally, William Blair began coverage on SoFi Technologies in a research note on Wednesday. They set an “outperform” rating on the stock. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $11.71.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares of the company’s stock, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by insiders.

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.