Wolff Wiese Magana LLC Purchases 62,876 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Wolff Wiese Magana LLC grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) by 108.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 120,715 shares of the company’s stock after purchasing an additional 62,876 shares during the quarter. Wolff Wiese Magana LLC’s holdings in SoFi Technologies were worth $636,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SOFI. Principal Financial Group Inc. purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at $198,000. Allianz Asset Management GmbH purchased a new stake in SoFi Technologies in the fourth quarter worth about $393,000. Ensign Peak Advisors Inc purchased a new stake in SoFi Technologies in the fourth quarter worth about $1,130,000. Charles Schwab Investment Management Inc. lifted its stake in SoFi Technologies by 12.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,155,648 shares of the company’s stock worth $49,891,000 after acquiring an additional 345,699 shares during the period. Finally, Geode Capital Management LLC lifted its stake in SoFi Technologies by 12.0% in the fourth quarter. Geode Capital Management LLC now owns 6,031,801 shares of the company’s stock worth $95,207,000 after acquiring an additional 647,121 shares during the period. 38.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, major shareholder Group Corp Softbank sold 5,381,785 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $7.99, for a total value of $43,000,462.15. Following the transaction, the insider now owns 89,900,110 shares in the company, valued at approximately $718,301,878.90. The sale was disclosed in a filing with the SEC, which is available through this link. 13.00% of the stock is owned by corporate insiders.

SoFi Technologies Stock Down 2.1 %

Shares of SOFI traded down $0.11 during mid-day trading on Friday, hitting $5.25. 897,671 shares of the company traded hands, compared to its average volume of 38,782,848. SoFi Technologies, Inc. has a 1-year low of $4.82 and a 1-year high of $24.65. The company has a quick ratio of 2.83, a current ratio of 2.83 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.81 billion, a PE ratio of -11.35 and a beta of 1.53. The business has a 50 day moving average of $6.53 and a 200 day moving average of $6.96.

SoFi Technologies (NASDAQ:SOFIGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). SoFi Technologies had a negative net margin of 27.19% and a negative return on equity of 7.30%. The firm had revenue of $362.53 million for the quarter, compared to the consensus estimate of $346.39 million. Equities research analysts anticipate that SoFi Technologies, Inc. will post -0.45 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Bank of America raised shares of SoFi Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, September 14th. Piper Sandler lowered their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “overweight” rating for the company in a research note on Wednesday, June 29th. Morgan Stanley upped their price objective on shares of SoFi Technologies from $7.00 to $7.50 and gave the stock an “equal weight” rating in a research note on Thursday, August 25th. Bank Of America (Bofa) raised shares of SoFi Technologies from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $8.00 to $9.00 in a research note on Wednesday, September 14th. Finally, Credit Suisse Group boosted their target price on shares of SoFi Technologies from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.36.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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