Earned Wealth Advisors LLC Takes $396,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Key Points

• Earned Wealth Advisors LLC has taken a new position in SoFi Technologies, Inc., purchasing 34,047 shares valued at approximately $396,000 in the first quarter.
• The stock is currently trading at $21.23, with a 1-year low of $6.01 and a high of $25.11, and has seen a 6.0% decline recently.
• During recent earnings, SoFi reported an EPS of $0.08, surpassing estimates, but its revenue of $519.37 million fell short of analyst expectations.

Earned Wealth Advisors LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm bought 34,047 shares of the company's stock, valued at approximately $396,000.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after buying an additional 14,281 shares during the period. American Century Companies Inc. raised its stake in SoFi Technologies by 5.7% in the 4th quarter. American Century Companies Inc. now owns 289,198 shares of the company's stock worth $4,454,000 after acquiring an additional 15,672 shares during the last quarter. Sei Investments Co. lifted its position in SoFi Technologies by 14.3% during the 4th quarter. Sei Investments Co. now owns 63,206 shares of the company's stock worth $973,000 after acquiring an additional 7,884 shares during the period. Orion Portfolio Solutions LLC grew its stake in SoFi Technologies by 64.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 35,493 shares of the company's stock valued at $547,000 after purchasing an additional 13,908 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its holdings in shares of SoFi Technologies by 121.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 37,780 shares of the company's stock valued at $582,000 after purchasing an additional 20,705 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 6.0%

Shares of SOFI stock opened at $21.23 on Monday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $25.11. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 44.23, a PEG ratio of 2.52 and a beta of 1.93. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The stock has a 50 day simple moving average of $17.59 and a 200-day simple moving average of $14.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.51%. The firm's revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on SOFI. Redburn Atlantic raised SoFi Technologies to a "hold" rating in a report on Friday. Needham & Company LLC raised their price target on shares of SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Stephens assumed coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. Keefe, Bruyette & Woods raised their target price on shares of SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a report on Thursday, July 10th. Finally, Barclays boosted their target price 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. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $18.06.

Insider Buying and Selling

In related news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the business'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 value of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at approximately $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. Insiders sold a total of 273,181 shares of company stock worth $4,043,240 in the last 90 days. Insiders own 2.60% of the company's stock.

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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