Raymond James Financial Inc. Purchases New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

Raymond James Financial Inc. acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 940,168 shares of the company’s stock, valued at approximately $14,479,000. Raymond James Financial Inc. owned about 0.09% of SoFi Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SOFI. Victory Capital Management Inc. increased its holdings in SoFi Technologies by 1.0% during the third quarter. Victory Capital Management Inc. now owns 128,661 shares of the company’s stock worth $1,011,000 after buying an additional 1,319 shares during the last quarter. Huntington National Bank increased its holdings in SoFi Technologies by 442.0% during the third quarter. Huntington National Bank now owns 8,856 shares of the company’s stock worth $70,000 after buying an additional 7,222 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in SoFi Technologies by 30.0% during the third quarter. OneDigital Investment Advisors LLC now owns 24,498 shares of the company’s stock worth $193,000 after buying an additional 5,650 shares during the last quarter. CIBC Asset Management Inc increased its holdings in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the last quarter. Finally, Empowered Funds LLC increased its holdings in SoFi Technologies by 5.0% during the third quarter. Empowered Funds LLC now owns 41,277 shares of the company’s stock worth $324,000 after buying an additional 1,951 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,004 shares of company stock worth $1,459,060 over the last three months. 2.60% of the stock is owned by insiders.

SoFi Technologies Trading Down 3.0 %

Shares of SoFi Technologies stock opened at $11.95 on Wednesday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The firm has a market cap of $13.10 billion, a PE ratio of 32.30, a PEG ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a 50 day simple moving average of $14.77 and a two-hundred day simple moving average of $12.94.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the firm earned $0.04 earnings per share. Analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SOFI shares. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. lifted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

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.