Future Financial Wealth Managment LLC Buys New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Future Financial Wealth Managment LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,110 shares of the company’s stock, valued at approximately $37,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after acquiring an additional 5,057,233 shares in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $71,349,000. Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock valued at $54,659,000 after acquiring an additional 199,949 shares during the last quarter. Northern Trust Corp lifted its stake in SoFi Technologies by 15.4% during the third quarter. Northern Trust Corp now owns 4,371,786 shares of the company’s stock worth $34,931,000 after purchasing an additional 584,335 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of SoFi Technologies by 241.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock valued at $38,772,000 after buying an additional 2,755,197 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $6.54 on Friday. The company has a 50-day moving average of $6.95 and a 200-day moving average of $7.72. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. SoFi Technologies, Inc. has a 12 month low of $6.20 and a 12 month high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Anthony Noto purchased 28,775 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the purchase, the chief executive officer now owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total value of $360,709.93. Following the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at approximately $2,906,704.24. The disclosure for this sale can be found here. Over the last three months, insiders bought 88,390 shares of company stock worth $597,569. 2.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on SOFI shares. Jefferies Financial Group cut their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. BTIG Research assumed coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. Citigroup started coverage on SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 price target on the stock. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $9.32.

SoFi Technologies 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.