Apollon Wealth Management LLC Has $1.08 Million Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Apollon Wealth Management LLC boosted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 49.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 92,974 shares of the company’s stock after purchasing an additional 30,960 shares during the quarter. Apollon Wealth Management LLC’s holdings in SoFi Technologies were worth $1,081,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SOFI. Two Sigma Advisers LP bought a new stake in SoFi Technologies during the 4th quarter valued at $299,980,000. Vanguard Group Inc. boosted its holdings in shares of SoFi Technologies by 9.9% during the 4th 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 last quarter. Norges Bank bought a new position in shares of SoFi Technologies in the 4th quarter worth approximately $103,678,000. Voloridge Investment Management LLC bought a new stake in SoFi Technologies during the 4th quarter worth approximately $75,139,000. Finally, First Trust Advisors LP grew its holdings in SoFi Technologies by 583.6% during the 4th quarter. First Trust Advisors LP now owns 2,686,667 shares of the company’s stock valued at $41,375,000 after buying an additional 2,293,622 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Barclays upped their target price on SoFi Technologies from $12.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 8th. Cowen assumed coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating for the company. Stephens assumed coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an “overweight” rating and a $20.00 price objective for the company. The Goldman Sachs Group assumed coverage on SoFi Technologies in a research report on Monday. They issued a “neutral” rating and a $19.00 target price for the company. Finally, Keefe, Bruyette & Woods lifted their price objective on SoFi Technologies from $9.00 to $13.00 and gave the company an “underperform” rating in a research note on Thursday, July 10th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $16.78.

SoFi Technologies Trading Up 3.3%

NASDAQ SOFI opened at $22.09 on Friday. The stock has a market capitalization of $24.42 billion, a PE ratio of 53.88, a price-to-earnings-growth ratio of 3.58 and a beta of 1.91. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $22.20. The firm has a 50 day moving average of $15.83 and a two-hundred day moving average of $14.35.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analysts’ expectations of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The firm’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.02 EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of the stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the sale, the executive vice president directly owned 203,509 shares in the company, valued at approximately $2,722,950.42. This trade represents a 5.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,095 shares of company stock worth $3,939,168 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies 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.