Sowell Financial Services LLC Makes New Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Sowell Financial Services LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,293 shares of the company's stock, valued at approximately $259,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SOFI. Janney Montgomery Scott LLC grew its position in shares of SoFi Technologies by 17.6% in the 1st quarter. Janney Montgomery Scott LLC now owns 147,931 shares of the company's stock valued at $1,720,000 after buying an additional 22,187 shares during the last quarter. Dynamic Advisor Solutions LLC bought a new position in SoFi Technologies during the 1st quarter worth approximately $174,000. Byrne Asset Management LLC bought a new position in SoFi Technologies during the 1st quarter worth approximately $45,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of SoFi Technologies by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 450,089 shares of the company's stock worth $5,235,000 after purchasing an additional 8,432 shares during the period. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth $325,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were 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 of the company's stock, valued at $4,162,422.62. This represents a 23.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now owns 215,029 shares of the company's stock, valued at approximately $2,302,960.59. The trade was a 4.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,095 shares of company stock worth $3,939,168 in the last 90 days. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Citizens Jmp assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price on the stock. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a report on Wednesday, April 30th. Truist Financial initiated coverage on SoFi Technologies in a research note on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target on the stock. Finally, Barclays raised 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. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $14.73.

SoFi Technologies Stock Up 1.5%

SOFI stock traded up $0.23 during mid-day trading on Wednesday, reaching $16.08. 67,568,537 shares of the company traded hands, compared to its average volume of 50,704,778. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm's 50 day moving average price is $13.41 and its 200 day moving average price is $13.93. The stock has a market cap of $17.77 billion, a price-to-earnings ratio of 93.24, a P/E/G ratio of 2.68 and a beta of 1.82. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company 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%. SoFi Technologies's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.