Strategic Financial Concepts LLC Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Strategic Financial Concepts LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, Holdings Channel reports. The fund acquired 10,986 shares of the company’s stock, valued at approximately $169,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies during the third quarter worth about $28,000. FNY Investment Advisers LLC boosted its position in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the period. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies during the third quarter worth about $39,000. Finally, SouthState Corp acquired a new position in SoFi Technologies during the third quarter valued at approximately $67,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. UBS Group increased their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Bank of America reissued an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Needham & Company LLC increased their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Performance

SOFI opened at $14.67 on Friday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 2.33 and a beta of 1.77. The business has a 50 day moving average of $15.70 and a 200-day moving average of $12.19. 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 released its quarterly earnings data 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 in the previous year, the business earned $0.04 earnings per share. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,008,465 shares of company stock worth $416,952,167. Company insiders own 2.60% of the company’s stock.

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.