SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by CMG Global Holdings LLC

CMG Global Holdings LLC lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 77.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,389 shares of the company's stock after purchasing an additional 61,443 shares during the period. SoFi Technologies comprises approximately 1.1% of CMG Global Holdings LLC's portfolio, making the stock its 28th largest position. CMG Global Holdings LLC's holdings in SoFi Technologies were worth $1,728,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its holdings in SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after buying an additional 14,281 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of SoFi Technologies by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company's stock worth $49,640,000 after acquiring an additional 8,218 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in SoFi Technologies during the fourth quarter worth approximately $513,000. West Michigan Advisors LLC acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $284,000. Finally, Jones Financial Companies Lllp boosted its holdings in SoFi Technologies by 20.4% in the fourth quarter. Jones Financial Companies Lllp now owns 217,061 shares of the company's stock valued at $3,343,000 after purchasing an additional 36,842 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction on 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 now owns 724,321 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction on Monday, April 21st. The stock was sold at an average price of $10.71, for a total transaction of $119,748.51. Following the transaction, the executive vice president now directly owns 215,029 shares in the company, valued at approximately $2,302,960.59. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,095 shares of company stock valued at $3,939,168 over the last ninety days. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $17.18 on Monday. 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 business has a 50 day simple moving average of $13.76 and a 200-day simple moving average of $13.94. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The stock has a market capitalization of $18.99 billion, a PE ratio of 41.90, a price-to-earnings-growth ratio of 2.91 and a beta of 1.82.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Truist Financial assumed coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target for the company. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective for the company. JMP Securities assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $14.73.

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.

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