12,670 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Purchased by Allianz SE

Key Points

• Allianz SE has acquired 12,670 shares of SoFi Technologies, valuing the purchase at approximately $147,000, which signifies growing institutional interest in the company.
• Insider selling activity has been noted, with CTO Jeremy Rishel selling 66,847 shares for over $1 million, representing an 8.45% decrease in his position.
• Analysts have indicated a mixed outlook for SoFi, with several firms setting target prices ranging from $13.00 to $21.00, while most maintain a "hold" rating for the stock.

Allianz SE acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 12,670 shares of the company's stock, valued at approximately $147,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its position in SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares during the period. Garde Capital Inc. acquired a new position in shares of SoFi Technologies during the 1st quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $32,000. Larson Financial Group LLC grew its position in shares of SoFi Technologies by 127.1% during the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after buying an additional 1,519 shares during the period. Finally, MCF Advisors LLC grew its position in shares of SoFi Technologies by 119.3% during the 1st quarter. MCF Advisors LLC now owns 3,072 shares of the company's stock worth $36,000 after buying an additional 1,671 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,181 shares of company stock worth $4,043,240. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Cowen assumed coverage on SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating for the company. TD Cowen assumed coverage on SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating and a $21.00 target price for the company. UBS Group boosted their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their target price on SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a research report on Thursday, July 10th. Finally, JMP Securities restated a "market perform" rating and set a $17.00 target price on shares of SoFi Technologies in a research report on Monday, July 14th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies has an average rating of "Hold" and an average target price of $18.06.

SoFi Technologies Trading Up 2.7%

NASDAQ SOFI opened at $21.81 on Tuesday. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 45.44, a PEG ratio of 2.52 and a beta of 1.93. The stock's 50 day moving average price is $17.77 and its two-hundred day moving average price is $14.89. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $25.11.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The business's quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

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.

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