Sowell Financial Services LLC Invests $259,000 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 disclosure with the Securities & Exchange Commission. The firm acquired 22,293 shares of the company's stock, valued at approximately $259,000.

Other institutional investors have also recently made changes to their positions in the company. 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 shares of SoFi Technologies in the fourth quarter worth about $31,000. Mpwm Advisory Solutions LLC bought a new position in shares of SoFi Technologies in the fourth quarter worth about $32,000. IAG Wealth Partners LLC bought a new position in shares of SoFi Technologies in the fourth quarter worth about $38,000. Finally, Elequin Capital LP raised its stake in shares of SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after buying an additional 631 shares during the period. Institutional investors own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the transaction, the director now owns 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $10.71, for a total value of $119,748.51. Following the completion of the transaction, the executive vice president now owns 215,029 shares of the company's stock, valued at approximately $2,302,960.59. This trade represents a 4.94% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 196,981 shares of company stock worth $2,743,434. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $15.20 on Friday. The stock has a market capitalization of $16.80 billion, a PE ratio of 37.07, a P/E/G ratio of 2.64 and a beta of 1.82. The business has a 50 day simple moving average of $13.22 and a two-hundred day simple moving average of $13.94. 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 1-year low of $6.01 and a 1-year high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million during 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 firm's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. UBS Group raised their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Citizens Jmp started coverage on SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 target price on the stock. Barclays lifted their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. JMP Securities started coverage on SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. Finally, Truist Financial started coverage on SoFi Technologies in a research note on Monday, June 2nd. They set a "hold" rating and a $14.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target 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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