Wealthfront Advisers LLC Has $1.77 Million Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Wealthfront Advisers LLC grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,800 shares of the company's stock after buying an additional 27,456 shares during the quarter. Wealthfront Advisers LLC's holdings in SoFi Technologies were worth $1,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Elequin Capital LP raised its stake in shares of SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after acquiring an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after buying an additional 685 shares during the last quarter. Bank of New Hampshire lifted its holdings in shares of SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after buying an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of SoFi Technologies by 33.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock worth $68,000 after buying an additional 1,100 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of SoFi Technologies by 6.2% during the first quarter. Signaturefd LLC now owns 21,476 shares of the company's stock worth $250,000 after buying an additional 1,246 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on SOFI shares. Barclays upped their price target on SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 8th. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. Keefe, Bruyette & Woods upped their price target on SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a report on Thursday, July 10th. TD Cowen started coverage on SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating and a $21.00 price target for the company. Finally, Cowen began coverage on SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating for the company. Three analysts have rated the stock with a sell rating, nine have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, SoFi Technologies has a consensus rating of "Hold" and a consensus price target of $16.78.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the completion of the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at $2,722,950.42. The trade was a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,095 shares of company stock valued at $3,939,168 over the last ninety days. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $21.81 on Friday. 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 fifty day moving average price of $16.00 and a two-hundred day moving average price of $14.39. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $22.74. The firm has a market capitalization of $24.11 billion, a P/E ratio of 53.20, a P/E/G ratio of 3.65 and a beta of 1.91.

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 (EPS) for the quarter, topping 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 firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. During the same period in the prior year, the company posted $0.02 earnings per share. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. As a group, analysts anticipate 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.

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