25,575 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Bought by Armstrong Fleming & Moore Inc

Armstrong Fleming & Moore Inc bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 25,575 shares of the company's stock, valued at approximately $297,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Gainplan LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth about $305,000. Key Client Fiduciary Advisors LLC boosted its stake in SoFi Technologies by 11.4% in the first quarter. Key Client Fiduciary Advisors LLC now owns 14,092 shares of the company's stock valued at $164,000 after acquiring an additional 1,445 shares during the last quarter. Teamwork Financial Advisors LLC bought a new position in shares of SoFi Technologies during the 1st quarter valued at approximately $933,000. Clarus Wealth Advisors purchased a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $808,000. Finally, RFG Advisory LLC raised its holdings in shares of SoFi Technologies by 308.8% in the 1st quarter. RFG Advisory LLC now owns 171,398 shares of the company's stock worth $1,993,000 after purchasing an additional 129,467 shares during the period. Hedge funds and other institutional investors own 38.43% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on SOFI. Needham & Company LLC reissued a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. Truist Financial began coverage on SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price target on the stock. JMP Securities started coverage on SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price objective for the company. Barclays boosted their price objective on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average price target of $14.36.

SoFi Technologies Price Performance

NASDAQ:SOFI traded down $0.14 during mid-day trading on Monday, hitting $14.10. 62,467,371 shares of the stock traded hands, compared to its average volume of 49,188,734. The business's 50-day moving average price is $12.37 and its 200 day moving average price is $14.00. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market cap of $15.59 billion, a PE ratio of 38.11, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business's revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction on Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the sale, the executive vice president now directly owns 215,029 shares of the company's stock, valued at $2,302,960.59. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 102,507 shares of company stock worth $1,283,528 in the last ninety days. 2.60% of the stock is currently owned by insiders.

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.