Gilliland Jeter Wealth Management LLC Purchases 5,500 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Gilliland Jeter Wealth Management LLC lifted its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 91.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,500 shares of the company’s stock after buying an additional 5,500 shares during the period. Gilliland Jeter Wealth Management LLC’s holdings in SoFi Technologies were worth $177,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. lifted its stake in SoFi Technologies by 8.8% in the second quarter. Sei Investments Co. now owns 38,976 shares of the company’s stock valued at $258,000 after buying an additional 3,139 shares in the last quarter. AQR Capital Management LLC lifted its position in SoFi Technologies by 58.8% in the 2nd quarter. AQR Capital Management LLC now owns 115,186 shares of the company’s stock valued at $756,000 after acquiring an additional 42,660 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in SoFi Technologies by 12.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 263,826 shares of the company’s stock worth $1,744,000 after purchasing an additional 30,206 shares during the period. Sanctuary Advisors LLC bought a new position in SoFi Technologies during the 2nd quarter worth about $731,000. Finally, Park Avenue Securities LLC raised its stake in shares of SoFi Technologies by 45.1% in the 3rd quarter. Park Avenue Securities LLC now owns 14,782 shares of the company’s stock valued at $116,000 after purchasing an additional 4,592 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $14.80 on Friday. The stock has a market cap of $16.06 billion, a PE ratio of 40.00, a P/E/G ratio of 2.12 and a beta of 1.78. 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 firm has a 50-day moving average of $15.79 and a 200-day moving average of $11.55. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 prior year, the firm earned $0.04 earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.28 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. The Goldman Sachs Group upped their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Finally, Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares in the company, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 in the last ninety days. 2.60% of the stock is owned by company 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.