Horizon Wealth Management LLC Makes New $128,000 Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Horizon Wealth Management LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the first quarter, Holdings Channel reports. The institutional investor acquired 10,980 shares of the company’s stock, valued at approximately $128,000.

A number of other institutional investors also recently made changes to their positions in SOFI. Two Sigma Advisers LP purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $299,980,000. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $103,678,000. Voloridge Investment Management LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $75,139,000. Finally, Amundi raised its holdings in SoFi Technologies by 58,176.3% during 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 last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on SOFI shares. Citizens Jmp started coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set an “outperform” rating and a $17.00 price target for the company. Truist Financial began coverage on shares of SoFi Technologies in a report on Monday, June 2nd. They issued a “hold” rating and a $14.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. JMP Securities started 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 target for the company. Finally, Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $14.36.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 11,181 shares of the stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the sale, the executive vice president now directly owns 215,029 shares of the company’s stock, valued at $2,302,960.59. This represents a 4.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders have sold 102,507 shares of company stock valued at $1,283,528 in the last ninety days. 2.60% of the stock is owned by company insiders.

SoFi Technologies Trading Up 4.2%

Shares of SOFI opened at $14.24 on Friday. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. 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 company’s fifty day simple moving average is $12.37 and its 200-day simple moving average is $14.02. The company has a market cap of $15.74 billion, a P/E ratio of 38.49, a P/E/G ratio of 2.24 and a beta of 1.82.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $739.93 million. During the same period in the prior year, the company posted $0.02 EPS. The firm’s revenue for the quarter was up 32.7% on a year-over-year basis. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.