Adams Wealth Management Makes New Investment in SoFi Technologies, Inc. $SOFI

Key Points

• Adams Wealth Management purchased 17,333 shares of SoFi Technologies in the first quarter, valued at approximately $201,000, as revealed in a recent SEC filing.
• Several analysts have provided new price targets for SoFi Technologies, with prices ranging from $14.00 to $26.00, and a consensus rating of "Hold" with an average target price of $18.29.
• Company insiders sold a total of 273,181 shares in the last ninety days, with significant sales by EVP Kelli Keough and Director Magdalena Yesil, indicating a decrease in their positions.

Adams Wealth Management bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,333 shares of the company's stock, valued at approximately $201,000.

Several other large investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its stake in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC purchased a new stake in SoFi Technologies in the 1st quarter worth about $28,000. Garde Capital Inc. purchased a new position in shares of SoFi Technologies during the first quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $32,000. Finally, Larson Financial Group LLC increased its stake in SoFi Technologies by 127.1% in the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after purchasing an additional 1,519 shares during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president directly owned 203,509 shares in the company, valued at $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the sale, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 273,181 shares of company stock worth $4,043,240. Company insiders own 2.60% of the company's stock.

SoFi Technologies Trading Up 2.1%

Shares of NASDAQ:SOFI traded up $0.48 during mid-day trading on Friday, reaching $23.77. The stock had a trading volume of 44,484,241 shares, compared to its average volume of 73,260,216. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a twelve month low of $6.75 and a twelve month high of $25.11. The firm has a 50 day simple moving average of $19.41 and a two-hundred day simple moving average of $15.25. The firm has a market cap of $28.46 billion, a PE ratio of 49.52, a price-to-earnings-growth ratio of 2.94 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The business had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. During the same quarter last year, the firm earned $0.01 EPS. The firm's revenue for the quarter was up 42.8% compared to the same quarter last year. On average, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SOFI. Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a report on Friday, August 1st. JMP Securities reiterated a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. Needham & Company LLC raised their price target on shares of SoFi Technologies from $20.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, July 30th. Barclays boosted their price target on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Finally, UBS Group lifted their price objective on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $18.29.

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.