Nicholas Wealth LLC. Acquires New Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Nicholas Wealth LLC. bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 85,372 shares of the company's stock, valued at approximately $993,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Brighton Jones LLC raised its stake in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after acquiring an additional 14,281 shares in the last quarter. American Century Companies Inc. lifted its position in shares of SoFi Technologies by 5.7% in the 4th quarter. American Century Companies Inc. now owns 289,198 shares of the company's stock worth $4,454,000 after purchasing an additional 15,672 shares during the period. Sei Investments Co. grew its holdings in shares of SoFi Technologies by 14.3% during the 4th quarter. Sei Investments Co. now owns 63,206 shares of the company's stock worth $973,000 after acquiring an additional 7,884 shares during the period. KLP Kapitalforvaltning AS purchased a new position in SoFi Technologies during the fourth quarter valued at $3,157,000. Finally, Vanguard Group Inc. boosted its stake in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

NASDAQ SOFI traded down $0.31 during trading hours on Friday, reaching $21.20. The company's stock had a trading volume of 40,013,421 shares, compared to its average volume of 69,386,928. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $23.43 billion, a price-to-earnings ratio of 51.71, a PEG ratio of 3.63 and a beta of 1.91. The firm's 50-day moving average price is $16.73 and its 200-day moving average price is $14.61. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $22.74.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share 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 quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.02 EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SOFI. JMP Securities reissued a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. Citizens Jmp downgraded SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. Barclays upped their price objective on SoFi Technologies from $12.00 to $18.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 8th. Stephens assumed coverage on SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target for the company. Finally, Cowen initiated coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating on the stock. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $16.78.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer directly owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total value of $154,137.60. Following the transaction, the executive vice president owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,181 shares of company stock valued at $4,043,240 over the last three months. 2.60% of the stock is owned by company insiders.

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.