Maridea Wealth Management LLC Acquires Shares of 52,096 SoFi Technologies, Inc. (NASDAQ:SOFI)

Maridea Wealth Management LLC bought a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 52,096 shares of the company’s stock, valued at approximately $802,000.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Norges Bank acquired a new stake in SoFi Technologies during the 4th quarter valued at $103,678,000. Amundi increased its stake in SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after buying an additional 2,700,543 shares during the period. Quadrature Capital Ltd acquired a new position in SoFi Technologies in the 3rd quarter worth $16,014,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SoFi Technologies by 123.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,740,628 shares of the company’s stock valued at $40,671,000 after buying an additional 1,512,326 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. UBS Group upped their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 over the last quarter. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

Shares of SOFI opened at $11.85 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The firm has a fifty day moving average of $14.42 and a 200-day moving average of $13.17. The company has a market cap of $12.99 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating 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 previous year, the company posted $0.04 EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current 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.