Integrated Wealth Concepts LLC Purchases 52,021 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Integrated Wealth Concepts LLC boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 150.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 86,488 shares of the company’s stock after purchasing an additional 52,021 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in SoFi Technologies were worth $1,332,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SOFI. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Norges Bank bought a new stake in SoFi Technologies during the 4th quarter valued at about $103,678,000. Amundi boosted its position in SoFi Technologies by 58,176.3% in the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock valued at $39,360,000 after buying an additional 2,700,543 shares during the period. First Trust Advisors LP grew its stake in SoFi Technologies by 583.6% in the 4th quarter. First Trust Advisors LP now owns 2,686,667 shares of the company’s stock worth $41,375,000 after acquiring an additional 2,293,622 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of SoFi Technologies by 123.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,740,628 shares of the company’s stock worth $40,671,000 after acquiring an additional 1,512,326 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SOFI has been the subject of a number of research reports. Needham & Company LLC boosted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. JMP Securities assumed coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price objective for the company. Finally, The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $13.10.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,172 shares of company stock valued at $1,271,115. 2.60% of the stock is owned by company insiders.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $13.27 on Wednesday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market cap of $14.55 billion, a PE ratio of 35.86, a P/E/G ratio of 2.24 and a beta of 1.86. The business has a 50-day simple moving average of $12.09 and a two-hundred day simple moving average of $13.70.

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