LPL Financial LLC Has $21.08 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

LPL Financial LLC boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 13.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,812,630 shares of the company's stock after acquiring an additional 209,290 shares during the quarter. LPL Financial LLC owned 0.17% of SoFi Technologies worth $21,081,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SOFI. Two Sigma Advisers LP acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $299,980,000. Voloridge Investment Management LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $75,139,000. First Trust Advisors LP grew its stake in shares of SoFi Technologies by 583.6% in the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock valued at $41,375,000 after acquiring an additional 2,293,622 shares in the last quarter. Aquatic Capital Management LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $26,755,000. Finally, Northern Trust Corp grew its stake in shares of SoFi Technologies by 22.7% in the fourth quarter. Northern Trust Corp now owns 6,052,301 shares of the company's stock valued at $93,205,000 after acquiring an additional 1,121,550 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 11,520 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the sale, the executive vice president owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction that occurred on 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 sale, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,181 shares of company stock worth $4,043,240 in the last quarter. 2.60% of the stock is owned by insiders.

SoFi Technologies Price Performance

Shares of SOFI stock traded down $0.27 on Tuesday, reaching $21.54. The company had a trading volume of 48,659,345 shares, compared to its average volume of 82,445,840. The stock has a market capitalization of $23.81 billion, a PE ratio of 44.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.93. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a one year low of $6.31 and a one year high of $25.11. The business's 50-day moving average is $17.77 and its 200 day moving average is $14.89.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.51%. The business's revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.01 earnings per share. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research note on Friday. Morgan Stanley restated an "underweight" rating and issued a $13.00 price target (up from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. The Goldman Sachs Group assumed coverage on shares of SoFi Technologies in a research note on Monday, July 14th. They issued a "neutral" rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods upped their price target on shares of SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research note on Tuesday. Finally, UBS Group increased their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $18.12.

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.