Founders Financial Securities LLC Acquires 2,000 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Founders Financial Securities LLC increased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 8.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,060 shares of the company’s stock after acquiring an additional 2,000 shares during the quarter. Founders Financial Securities LLC’s holdings in SoFi Technologies were worth $179,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. ORG Partners LLC bought a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its stake in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares in the last quarter. SOA Wealth Advisors LLC. increased its holdings in SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after buying an additional 1,713 shares during the period. GAMMA Investing LLC increased its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after buying an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $37,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. Insiders sold a total of 19,921,285 shares of company stock worth $135,057,462 over the last three months. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $7.01 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The firm’s 50 day moving average is $7.11 and its 200-day moving average is $7.21. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $10.49. The firm has a market capitalization of $7.41 billion, a price-to-earnings ratio of -22.61, a PEG ratio of 1.62 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Barclays dropped their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, July 9th. BTIG Research started coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.14.

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.