Riggs Asset Managment Co. Inc. Buys 100,984 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Riggs Asset Managment Co. Inc. boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 258,933.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 101,023 shares of the company's stock after purchasing an additional 100,984 shares during the period. Riggs Asset Managment Co. Inc.'s holdings in SoFi Technologies were worth $1,175,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in SOFI. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies in the fourth quarter worth about $27,000. Hollencrest Capital Management bought a new position in SoFi Technologies in the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies in the 4th quarter worth approximately $32,000. IAG Wealth Partners LLC bought a new position in SoFi Technologies in the 4th quarter worth approximately $38,000. Finally, Garde Capital Inc. bought a new position in SoFi Technologies in the 1st quarter worth approximately $31,000. 38.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Magdalena Yesil sold 87,140 shares of the 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 completion of the transaction, the director directly owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred 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 sale, the chief technology officer owned 724,321 shares in the company, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,095 shares of company stock valued at $3,939,168 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Stock Up 3.6%

SOFI traded up $0.67 during trading on Monday, reaching $19.24. The company had a trading volume of 79,735,446 shares, compared to its average volume of 52,483,485. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $19.38. The business's fifty day moving average price is $14.40 and its 200 day moving average price is $14.02. The company has a market cap of $21.27 billion, a P/E ratio of 109.24, a PEG ratio of 3.15 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its 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 analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business's quarterly revenue was up 32.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.02 EPS. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently weighed in on SOFI. Stephens began coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price for the company. Truist Financial initiated coverage on SoFi Technologies in a report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective for the company. JMP Securities began coverage on SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective for the company. Barclays boosted 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 note on Wednesday, April 30th. Finally, Citizens Jmp initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price for the company. Three analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.73.

SoFi Technologies 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.