Atria Wealth Solutions Inc. Acquires 22,963 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Atria Wealth Solutions Inc. raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 329,237 shares of the company’s stock after acquiring an additional 22,963 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in SoFi Technologies were worth $3,276,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after acquiring an additional 2,567,797 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of SoFi Technologies by 102.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after acquiring an additional 250,854 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of SoFi Technologies by 202.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock worth $120,000 after acquiring an additional 10,013 shares in the last quarter. Baltimore Washington Financial Advisors Inc. grew its stake in shares of SoFi Technologies by 18.0% during the 3rd quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after acquiring an additional 59,412 shares in the last quarter. Finally, Hartline Investment Corp grew its stake in shares of SoFi Technologies by 3.4% during the 3rd quarter. Hartline Investment Corp now owns 865,756 shares of the company’s stock worth $6,917,000 after acquiring an additional 28,115 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SoFi Technologies in a research note on Wednesday, January 10th. They issued a “hold” rating and a $11.00 target price for the company. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Mizuho decreased their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Jefferies Financial Group decreased their target price on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Tuesday, March 26th. Finally, Citigroup assumed coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 target price for the company. Three analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.08.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

SOFI opened at $7.87 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23. The stock has a fifty day moving average of $7.64 and a 200-day moving average of $7.90.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The company had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. During the same quarter last year, the firm earned ($0.05) earnings per share. The company’s revenue was up 34.7% on a year-over-year basis. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

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.