Maven Securities LTD Purchases Shares of 16,500 SoFi Technologies, Inc. (NASDAQ:SOFI)

Maven Securities LTD purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 16,500 shares of the company’s stock, valued at approximately $254,000.

A number of other hedge funds also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC raised its position in SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares in the last quarter. Procyon Advisors LLC raised its position in SoFi Technologies by 8.0% in the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after purchasing an additional 1,000 shares in the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock valued at $128,000 after acquiring an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its position in shares of SoFi Technologies by 33.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock worth $68,000 after acquiring an additional 1,100 shares in the last quarter. Finally, SOA Wealth Advisors LLC. raised its position in shares of SoFi Technologies by 33.1% during the 4th quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company’s stock worth $87,000 after acquiring an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SOFI. Citigroup raised their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JMP Securities began coverage on SoFi Technologies in a research report on Friday, April 25th. They set a “market outperform” rating and a $17.00 target price on the stock. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Finally, The Goldman Sachs Group lifted their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $14.38.

SoFi Technologies Trading Up 1.8%

NASDAQ:SOFI opened at $14.29 on Wednesday. The firm has a market cap of $15.67 billion, a P/E ratio of 38.62, a PEG ratio of 2.24 and a beta of 1.84. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock’s 50 day simple moving average is $11.94 and its 200-day simple moving average is $13.89. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same period in the previous year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the transaction, the executive vice president now owns 226,210 shares in the company, valued at approximately $2,877,391.20. The trade was a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock worth $1,271,115 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

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.