Total Wealth Planning & Management Inc. Acquires Shares of 53,319 SoFi Technologies, Inc. (NASDAQ:SOFI)

Total Wealth Planning & Management Inc. purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,319 shares of the company's stock, valued at approximately $821,000. SoFi Technologies accounts for approximately 0.7% of Total Wealth Planning & Management Inc.'s investment portfolio, making the stock its 27th biggest position.

A number of other institutional investors also recently modified their holdings of SOFI. Jefferies Financial Group Inc. bought a new position in SoFi Technologies in the 4th quarter valued at $1,164,000. Virtue Capital Management LLC purchased a new stake in SoFi Technologies during the 4th quarter worth about $982,000. Forum Financial Management LP lifted its holdings in SoFi Technologies by 15.2% during the 4th quarter. Forum Financial Management LP now owns 41,446 shares of the company's stock worth $638,000 after purchasing an additional 5,475 shares in the last quarter. Warm Springs Advisors Inc. purchased a new stake in SoFi Technologies during the 4th quarter worth about $2,464,000. Finally, CTC Alternative Strategies Ltd. purchased a new stake in SoFi Technologies during the 4th quarter worth about $265,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several recent analyst reports. UBS Group raised their price target on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Citizens Jmp began coverage on SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Barclays raised their price target on 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 assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.38.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 11,520 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was 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 now owns 203,509 shares in the company, valued at $2,722,950.42. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 102,507 shares of company stock valued at $1,283,528. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Stock Performance

Shares of SOFI traded down $0.08 during trading hours on Friday, hitting $13.10. The stock had a trading volume of 40,954,734 shares, compared to its average volume of 48,261,821. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The firm has a market capitalization of $14.47 billion, a PE ratio of 35.39, a PEG ratio of 2.24 and a beta of 1.84. The stock has a fifty day moving average price of $12.22 and a 200 day moving average price of $14.02.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same period in the previous year, the business earned $0.02 earnings per share. The business's revenue was up 32.7% on a year-over-year basis. Analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.