Independent Advisor Alliance Has $214,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Independent Advisor Alliance boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 22.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 21,542 shares of the company’s stock after acquiring an additional 3,963 shares during the quarter. Independent Advisor Alliance’s holdings in SoFi Technologies were worth $214,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of SOFI. Dimensional Fund Advisors LP acquired a new stake in SoFi Technologies during the fourth quarter worth $38,595,000. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in SoFi Technologies by 241.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock worth $38,772,000 after buying an additional 2,755,197 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in SoFi Technologies by 241.4% during the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,896,692 shares of the company’s stock worth $38,733,000 after buying an additional 2,755,197 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after purchasing an additional 2,567,797 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of SoFi Technologies by 14,136.9% in the 3rd quarter. FMR LLC now owns 2,317,905 shares of the company’s stock valued at $18,520,000 after purchasing an additional 2,301,624 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity

In other SoFi Technologies news, CEO Anthony Noto bought 28,775 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Anthony Noto acquired 28,775 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was bought at an average price of $6.90 per share, with a total value of $198,547.50. Following the acquisition, the chief executive officer now owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $7.02 on Thursday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The stock has a market cap of $7.42 billion, a PE ratio of -22.64, a price-to-earnings-growth ratio of 1.65 and a beta of 1.75. The stock has a 50-day moving average of $7.26 and a 200-day moving average of $7.82. SoFi Technologies, Inc. has a one year low of $5.09 and a one year high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. SoFi Technologies’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on SOFI shares. Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Citigroup started coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 target price on the stock. Jefferies Financial Group reduced their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their target price for the company from $6.50 to $7.50 in a research note on Friday, April 5th. Finally, The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $9.08.

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.