Gilliland Jeter Wealth Management LLC Acquires Shares of 6,000 SoFi Technologies, Inc. (NASDAQ:SOFI)

Gilliland Jeter Wealth Management LLC bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 6,000 shares of the company’s stock, valued at approximately $47,000.

A number of other hedge funds have also recently made changes to their positions in SOFI. Vanguard Group Inc. increased its position in SoFi Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after buying an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of SoFi Technologies by 6.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after acquiring an additional 690,638 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of SoFi Technologies by 176.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after acquiring an additional 6,870,610 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in SoFi Technologies by 130.0% in the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SOFI shares. Barclays dropped their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods reduced their target price on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average target price of $9.25.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % 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 24,939 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Performance

SOFI stock opened at $10.18 on Monday. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $10.49. The company has a market cap of $10.76 billion, a P/E ratio of -32.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The stock’s fifty day moving average price is $7.92 and its 200-day moving average price is $7.32.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same period last year, the firm posted ($0.06) earnings per share. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

SoFi Technologies Company 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.