IAG Wealth Partners LLC Purchases New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

IAG Wealth Partners LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 2,475 shares of the company’s stock, valued at approximately $38,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. State Street Corp raised its stake in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after purchasing an additional 310,532 shares in the last quarter. Geode Capital Management LLC raised its stake in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares in the last quarter. 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 worth $97,230,000 after acquiring an additional 167,780 shares in the last quarter. Azora Capital LP raised its stake in SoFi Technologies by 8.8% during the third quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after acquiring an additional 352,901 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after acquiring an additional 2,688,847 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $11.92 on Thursday. The stock has a market capitalization of $13.07 billion, a PE ratio of 32.22, a PEG ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The business’s 50 day simple moving average is $15.00 and its 200 day simple moving average is $12.79. 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 (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the business posted $0.04 EPS. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,004 shares of company stock worth $1,459,060. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. The Goldman Sachs Group boosted their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $12.50.

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.