SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by MFG Wealth Management Inc.

MFG Wealth Management Inc. lifted its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 27.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,277 shares of the company's stock after purchasing an additional 33,887 shares during the period. SoFi Technologies comprises about 1.7% of MFG Wealth Management Inc.'s portfolio, making the stock its 28th biggest holding. MFG Wealth Management Inc.'s holdings in SoFi Technologies were worth $1,818,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies during the 4th quarter worth about $27,000. Hollencrest Capital Management purchased a new position in shares of SoFi Technologies in the 4th quarter valued at about $31,000. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies in the 4th quarter worth about $32,000. IAG Wealth Partners LLC purchased a new position in SoFi Technologies during the fourth quarter worth approximately $38,000. Finally, Garde Capital Inc. purchased a new position in SoFi Technologies during the first quarter worth approximately $31,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Truist Financial began coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target on the stock. Citizens Jmp started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. UBS Group boosted their target price 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. Barclays upped their price target 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $14.73.

Insider Transactions at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 10,267 shares of SoFi Technologies stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.22, for a total value of $156,263.74. Following the completion of the sale, the executive vice president now directly owns 255,467 shares of the company's stock, valued at $3,888,207.74. The trade was a 3.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 274,095 shares of company stock worth $3,939,168. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $16.08 on Thursday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The company has a market cap of $17.77 billion, a price-to-earnings ratio of 39.22, a PEG ratio of 2.68 and a beta of 1.82. The business's 50 day moving average price is $13.52 and its 200 day moving average price is $13.95. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating 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 net margin of 17.21% and a return on equity of 3.34%. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.02 EPS. On average, research 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.

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