IAG Wealth Partners LLC Invests $38,000 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 its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,475 shares of the company’s stock, valued at approximately $38,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies in the 4th quarter valued at $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies in the 3rd quarter valued at $28,000. Hollencrest Capital Management purchased a new stake in SoFi Technologies in the 4th quarter valued at $31,000. FNY Investment Advisers LLC raised its position in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Finally, SouthState Corp purchased a new stake in SoFi Technologies in the 3rd quarter valued at $67,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of analyst reports. Needham & Company LLC increased their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Up 5.9 %

SOFI stock opened at $11.92 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $13.07 billion, a price-to-earnings ratio of 32.22, a PEG ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The stock has a fifty day moving average of $15.00 and a 200-day moving average of $12.79.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the company posted $0.04 earnings per share. As a group, equities research analysts predict 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 SoFi Technologies stock in a transaction dated 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 completion of the sale, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 92,004 shares of company stock worth $1,459,060 in the last quarter. 2.60% of the stock is owned by company insiders.

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.