Highland Capital Management LLC Buys New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Highland Capital Management LLC acquired a new stake 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 acquired 88,155 shares of the company's stock, valued at approximately $1,025,000.

A number of other institutional investors have also recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SoFi Technologies in the fourth quarter worth about $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies in the 4th quarter worth approximately $31,000. Garde Capital Inc. acquired a new position in SoFi Technologies in the 1st quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies during the 4th quarter worth approximately $32,000. Finally, IAG Wealth Partners LLC acquired a new stake in SoFi Technologies during the 4th quarter valued at approximately $38,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $17.18 on Monday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The firm has a market capitalization of $18.99 billion, a PE ratio of 41.90, a P/E/G ratio of 2.91 and a beta of 1.82. The business's 50 day moving average price is $13.76 and its 200-day moving average price is $13.94.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.02 EPS. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on SOFI shares. Stephens began coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. JMP Securities assumed 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. Truist Financial started coverage on SoFi Technologies in a report on Monday, June 2nd. They set a "hold" rating and a $14.00 target price on the stock. Finally, UBS Group lifted 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. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $14.73.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies 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 transaction, the chief technology officer now owns 724,321 shares of the company's stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $10.71, for a total transaction of $119,748.51. Following the transaction, the executive vice president now owns 215,029 shares in the company, valued at approximately $2,302,960.59. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 274,095 shares of company stock valued at $3,939,168 over the last quarter. 2.60% of the stock is owned by insiders.

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.

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