Firethorn Wealth Partners LLC Has $3.09 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Firethorn Wealth Partners LLC lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 30.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 200,316 shares of the company’s stock after selling 87,492 shares during the quarter. SoFi Technologies accounts for approximately 1.5% of Firethorn Wealth Partners LLC’s investment portfolio, making the stock its 16th largest position. Firethorn Wealth Partners LLC’s holdings in SoFi Technologies were worth $3,085,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Hanseatic Management Services Inc. bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $1,116,000. Charles Schwab Investment Management Inc. raised its position in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after buying an additional 87,097 shares during the last quarter. Zacks Investment Management purchased a new stake in SoFi Technologies in the 3rd quarter valued at $3,766,000. Citizens Financial Group Inc. RI raised its position in SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after buying an additional 70,603 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after buying an additional 2,688,847 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $17.92 on Friday. The stock has a market cap of $19.45 billion, a price-to-earnings ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The stock’s 50-day moving average is $15.71 and its 200 day moving average is $11.02.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.03) EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SOFI shares. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday. Barclays increased their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $11.71.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was bought at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 26,008,870 shares of company stock valued at $416,950,073 in the last ninety days. Company insiders own 2.60% of the company’s stock.

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.