USAdvisors Wealth Management LLC Purchases Shares of 15,500 SoFi Technologies, Inc. (NASDAQ:SOFI)

Key Points

• USAdvisors Wealth Management LLC has acquired a stake of 15,500 shares in SoFi Technologies, valued at approximately $180,000.
• SoFi Technologies reported a $763.81 million revenue for the last quarter, surpassing analysts' expectations, and a year-over-year revenue growth of 32.7%.
• Recent analyst ratings give SoFi a mixed outlook, with an average target price of $16.78 and three analysts rating the stock as a sell.

USAdvisors Wealth Management LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 15,500 shares of the company's stock, valued at approximately $180,000.

Other large investors have also recently bought and sold shares of the company. Nicholas Wealth LLC. acquired a new position in SoFi Technologies in the first quarter worth $993,000. Cetera Investment Advisers boosted its stake in SoFi Technologies by 3.5% in the first quarter. Cetera Investment Advisers now owns 538,257 shares of the company's stock worth $6,260,000 after purchasing an additional 18,213 shares in the last quarter. Avantax Advisory Services Inc. boosted its stake in SoFi Technologies by 7.6% in the first quarter. Avantax Advisory Services Inc. now owns 80,444 shares of the company's stock worth $936,000 after purchasing an additional 5,688 shares in the last quarter. Kovack Advisors Inc. boosted its stake in SoFi Technologies by 17.4% in the first quarter. Kovack Advisors Inc. now owns 77,060 shares of the company's stock worth $896,000 after purchasing an additional 11,423 shares in the last quarter. Finally, Pinnacle Associates Ltd. boosted its stake in SoFi Technologies by 31.2% in the first quarter. Pinnacle Associates Ltd. now owns 55,313 shares of the company's stock worth $643,000 after purchasing an additional 13,140 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Down 1.4%

NASDAQ:SOFI opened at $21.20 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $22.74. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. The stock has a market capitalization of $23.43 billion, a PE ratio of 51.71, a price-to-earnings-growth ratio of 3.63 and a beta of 1.91. The business's 50-day simple moving average is $16.73 and its 200-day simple moving average is $14.61.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data 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. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. During the same quarter in the previous year, the business posted $0.02 EPS. SoFi Technologies's revenue for the quarter was up 32.7% on a year-over-year basis. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the topic of a number of recent analyst reports. Stephens initiated coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. JMP Securities reissued a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. Cowen initiated coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating on the stock. Finally, 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and an average target price of $16.78.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the business'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. The trade was a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 273,181 shares of company stock worth $4,043,240. Corporate insiders own 2.60% of the company's stock.

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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