Motley Fool Asset Management LLC Takes $212,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Key Points

• Motley Fool Asset Management LLC has invested $212,000 in SoFi Technologies, acquiring 18,235 shares in the first quarter.
• SoFi Technologies has seen increased positions from several hedge funds, with institutional investors now owning 38.43% of the stock.
• Wall Street analysts have given SoFi a consensus rating of "Hold", with a target price around $18.29, though ratings vary from sell to strong buy.

Motley Fool Asset Management LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,235 shares of the company's stock, valued at approximately $212,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hazlett Burt & Watson Inc. grew its position in shares of SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares in the last quarter. Headlands Technologies LLC bought a new position in SoFi Technologies during the 1st quarter valued at $28,000. Garde Capital Inc. acquired a new position in SoFi Technologies during the 1st quarter worth $31,000. Mpwm Advisory Solutions LLC bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $32,000. Finally, Larson Financial Group LLC raised its stake in shares of SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock valued at $32,000 after purchasing an additional 1,519 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded down $0.52 during trading on Thursday, reaching $23.29. The company had a trading volume of 51,859,125 shares, compared to its average volume of 60,407,324. SoFi Technologies, Inc. has a twelve month low of $6.69 and a twelve month high of $25.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The firm has a market capitalization of $25.74 billion, a PE ratio of 48.52, a price-to-earnings-growth ratio of 2.94 and a beta of 1.93. The firm's fifty day moving average is $19.03 and its 200 day moving average is $15.17.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%. The company had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. During the same period last year, the firm earned $0.01 EPS. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 10,267 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $21.80, for a total value of $223,820.60. Following the sale, the executive vice president directly owned 245,200 shares in the company, valued at $5,345,360. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 66,847 shares of the firm'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 transaction of $1,039,470.85. Following the sale, the chief technology officer owned 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 disclosure for this sale can be found here. In the last three months, insiders sold 273,181 shares of company stock valued at $4,043,240. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Mizuho set a $26.00 price objective on SoFi Technologies and gave the company an "outperform" rating in a research note on Thursday, July 31st. Needham & Company LLC upped their price target on SoFi Technologies from $20.00 to $25.00 and gave the company a "buy" rating in a research report on Wednesday, July 30th. Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods increased their target price on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a report on Monday, July 14th. They issued a "neutral" rating and a $19.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $18.29.

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.