Fiduciary Alliance LLC Invests $1.13 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

Fiduciary Alliance LLC purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 96,944 shares of the company's stock, valued at approximately $1,127,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new position in SoFi Technologies during the fourth quarter worth about $27,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies in the 4th quarter worth approximately $32,000. IAG Wealth Partners LLC purchased a new position in SoFi Technologies in the 4th quarter valued at approximately $38,000. Finally, Elequin Capital LP raised its holdings in SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after acquiring an additional 631 shares during the period. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded down $0.20 during trading on Wednesday, reaching $13.46. The company had a trading volume of 54,319,982 shares, compared to its average volume of 48,655,831. The company has a fifty day moving average of $12.26 and a two-hundred day moving average of $14.02. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.88 billion, a P/E ratio of 36.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. 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 announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The company 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 firm's quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.02 earnings per share. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. This trade represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 102,507 shares of company stock worth $1,283,528. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Truist Financial began coverage on SoFi Technologies in a report on Monday. They issued a "hold" rating and a $14.00 price target for the company. JMP Securities began coverage on SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. UBS Group upped their price target on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Citizens Jmp began coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $14.36.

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.