Prasad Wealth Partners LLC Purchases Shares of 11,812 SoFi Technologies, Inc. (NASDAQ:SOFI)

Prasad Wealth Partners LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 11,812 shares of the company’s stock, valued at approximately $182,000.

Several other large investors have also recently modified their holdings of SOFI. Cassaday & Co Wealth Management LLC grew its position in SoFi Technologies by 99.0% during the 4th quarter. Cassaday & Co Wealth Management LLC now owns 19,900 shares of the company’s stock worth $306,000 after acquiring an additional 9,900 shares during the last quarter. Compass Capital Corp MA ADV purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $154,000. Dash Acquisitions Inc. bought a new position in shares of SoFi Technologies in the fourth quarter worth approximately $162,000. Handelsbanken Fonder AB increased its stake in shares of SoFi Technologies by 11.3% in the fourth quarter. Handelsbanken Fonder AB now owns 252,100 shares of the company’s stock worth $3,882,000 after buying an additional 25,500 shares during the period. Finally, Pegasus Asset Management Inc. raised its holdings in SoFi Technologies by 1.3% during the 4th quarter. Pegasus Asset Management Inc. now owns 114,388 shares of the company’s stock valued at $1,762,000 after buying an additional 1,437 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SOFI shares. Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. UBS Group upped their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $14.36 on Tuesday. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The firm has a market capitalization of $15.58 billion, a P/E ratio of 38.81, a P/E/G ratio of 2.24 and a beta of 1.77. 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 business has a fifty day simple moving average of $15.65 and a two-hundred day simple moving average of $12.32.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the company posted $0.04 earnings per share. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares in the company, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,008,465 shares of company stock worth $416,952,167. Insiders own 2.60% of the company’s stock.

SoFi Technologies Company 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.