Janney Montgomery Scott LLC Purchases 22,187 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Janney Montgomery Scott LLC boosted its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 17.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 147,931 shares of the company's stock after acquiring an additional 22,187 shares during the period. Janney Montgomery Scott LLC's holdings in SoFi Technologies were worth $1,720,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. boosted its holdings in SoFi Technologies by 6,208,000.0% in the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after acquiring an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in SoFi Technologies in the fourth quarter valued at about $3,703,000. Midwest Professional Planners LTD. acquired a new position in SoFi Technologies in the fourth quarter valued at about $836,000. Oppenheimer & Co. Inc. lifted its stake in SoFi Technologies by 47.9% in the fourth quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company's stock valued at $5,628,000 after buying an additional 118,288 shares during the period. Finally, Geode Capital Management LLC lifted its stake in SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after buying an additional 315,899 shares during the period. Institutional investors own 38.43% of the company's stock.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the transaction, the executive vice president now directly owns 215,029 shares of the company's stock, valued at approximately $2,302,960.59. The trade was a 4.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director now directly owns 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 274,095 shares of company stock valued at $3,939,168. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. JMP Securities assumed coverage on SoFi Technologies in a research note on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Stephens assumed coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 target price on the stock. Citizens Jmp assumed coverage on SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price on the stock. UBS Group increased their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Finally, 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. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $14.73.

SoFi Technologies Price Performance

SOFI opened at $16.77 on Friday. 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 company has a market capitalization of $18.54 billion, a price-to-earnings ratio of 40.90, a P/E/G ratio of 2.72 and a beta of 1.82. The firm's fifty day moving average price is $13.64 and its two-hundred day moving average price is $13.96. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

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

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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