Total Wealth Planning & Management Inc. Takes $821,000 Position in 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 filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,319 shares of the company's stock, valued at approximately $821,000. SoFi Technologies accounts for 0.7% of Total Wealth Planning & Management Inc.'s investment portfolio, making the stock its 27th biggest position.

A number of other hedge funds have also modified their holdings of SOFI. Vanguard Group Inc. raised its stake in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in SoFi Technologies during the fourth quarter valued at $299,980,000. Geode Capital Management LLC raised its stake in SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares in the last quarter. Norges Bank purchased a new stake in SoFi Technologies during the fourth quarter valued at $103,678,000. Finally, Charles Schwab Investment Management Inc. raised its stake in SoFi Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock valued at $97,230,000 after purchasing an additional 167,780 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now directly owns 226,210 shares in the company, valued at approximately $2,877,391.20. This trade represents a 4.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction 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 $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. In the last ninety days, insiders have sold 102,507 shares of company stock worth $1,283,528. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Stock Down 1.1%

SoFi Technologies stock traded down $0.15 during midday trading on Thursday, hitting $13.17. 50,139,262 shares of the company's stock were exchanged, compared to its average volume of 48,196,159. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The firm has a 50-day moving average of $12.23 and a two-hundred day moving average of $14.03. The company has a market cap of $14.56 billion, a PE ratio of 35.59, a P/E/G ratio of 2.24 and a beta of 1.84.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Citizens Jmp assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price for the company. JMP Securities assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price for the company. UBS Group raised their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Finally, Needham & Company LLC restated a "buy" rating and set a $20.00 target price on shares of SoFi Technologies in a research report on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $14.38.

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.