Simplicity Wealth LLC Purchases New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

Simplicity Wealth LLC purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 229,303 shares of the company's stock, valued at approximately $2,667,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ purchased a new position in SoFi Technologies in the 4th quarter worth approximately $27,000. Hollencrest Capital Management purchased a new position in SoFi Technologies in the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies in the 4th quarter worth approximately $32,000. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $38,000. Finally, Elequin Capital LP boosted its stake in shares of SoFi Technologies by 30.1% during the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after buying an additional 631 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Stephens assumed coverage on SoFi Technologies in a research note on Thursday. They set an "overweight" rating and a $20.00 target price for the company. Barclays increased their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. JMP Securities assumed coverage on SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price for the company. Finally, Needham & Company LLC reiterated a "buy" rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $14.73.

Insider Activity

In related news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies 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 transaction, the director now directly owns 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 276,787 shares of company stock valued at $3,753,076. Company insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

NASDAQ SOFI traded down $0.81 during trading hours on Friday, hitting $14.09. The company had a trading volume of 76,609,263 shares, compared to its average volume of 49,758,666. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $12.79 and a 200-day simple moving average of $13.99. The firm has a market cap of $15.57 billion, a P/E ratio of 38.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm's revenue for the quarter was up 32.7% on a year-over-year basis. During the same period last year, the company earned $0.02 earnings per share. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.