Mayflower Financial Advisors LLC Acquires 13,750 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Mayflower Financial Advisors LLC boosted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 101.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,315 shares of the company’s stock after purchasing an additional 13,750 shares during the quarter. Mayflower Financial Advisors LLC’s holdings in SoFi Technologies were worth $318,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position 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 worth $1,514,390,000 after buying an additional 8,898,879 shares during the last quarter. Two Sigma Advisers LP bought a new stake in SoFi Technologies during the fourth quarter valued at about $299,980,000. Geode Capital Management LLC grew its holdings in SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock valued at $276,288,000 after purchasing an additional 315,899 shares during the period. Norges Bank bought a new position in shares of SoFi Technologies in the fourth quarter worth about $103,678,000. Finally, Northern Trust Corp boosted its stake in SoFi Technologies by 22.7% during the fourth quarter. Northern Trust Corp now owns 6,052,301 shares of the company’s stock valued at $93,205,000 after buying an additional 1,121,550 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares of the company’s stock, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of the stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total value of $154,137.60. Following the transaction, the executive vice president owned 203,509 shares in the company, valued at $2,722,950.42. This trade represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,095 shares of company stock valued at $3,939,168. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $22.09 on Friday. The firm’s 50 day simple moving average is $15.83 and its 200 day simple moving average is $14.35. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 53.88, a P/E/G ratio of 3.58 and a beta of 1.91. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $22.44. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

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

Wall Street Analysts Forecast Growth

SOFI has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating on the stock. TD Cowen began coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating and a $21.00 price objective for the company. Stephens assumed coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They set an “overweight” rating and a $20.00 target price for the company. Finally, UBS Group raised their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $16.78.

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.