Kestra Private Wealth Services LLC Increases Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kestra Private Wealth Services LLC increased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 247.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,756 shares of the company's stock after acquiring an additional 42,575 shares during the period. Kestra Private Wealth Services LLC's holdings in SoFi Technologies were worth $695,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SOFI. CMG Global Holdings LLC boosted its position in SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after acquiring an additional 61,443 shares in the last quarter. Geode Capital Management LLC boosted its position in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after acquiring an additional 315,899 shares in the last quarter. Sowell Financial Services LLC bought a new stake in SoFi Technologies during the 1st quarter valued at approximately $259,000. MFG Wealth Management Inc. boosted its position in SoFi Technologies by 27.7% during the 1st quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company's stock valued at $1,818,000 after acquiring an additional 33,887 shares in the last quarter. Finally, Teacher Retirement System of Texas boosted its position in SoFi Technologies by 36.2% during the 1st quarter. Teacher Retirement System of Texas now owns 247,693 shares of the company's stock valued at $2,881,000 after acquiring an additional 65,854 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SOFI has been the subject of a number of recent analyst reports. UBS Group boosted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Keefe, Bruyette & Woods boosted their price objective 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. Citizens Jmp lowered shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. JMP Securities restated a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. Finally, TD Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $16.78.

SoFi Technologies Price Performance

SOFI traded down $0.31 on Friday, hitting $21.20. 40,013,421 shares of the company's stock traded hands, compared to its average volume of 69,386,928. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $22.74. The company's 50 day simple moving average is $16.73 and its 200-day simple moving average is $14.61. The firm has a market cap of $23.43 billion, a price-to-earnings ratio of 51.71, a P/E/G ratio of 3.63 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 3.34% and a net margin of 17.21%. The company's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated 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 completion of the sale, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,267 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $21.80, for a total value of $223,820.60. Following the completion of the transaction, the executive vice president directly owned 245,200 shares in the company, valued at $5,345,360. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 273,181 shares of company stock worth $4,043,240 in the last three months. 2.60% of the stock is owned by insiders.

SoFi Technologies 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.