CMG Global Holdings LLC Acquires New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

CMG Global Holdings LLC bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 78,946 shares of the company’s stock, valued at approximately $1,216,000.

Several other institutional investors have also recently made changes to their positions in SOFI. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the third quarter worth $28,000. FNY Investment Advisers LLC raised its position in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the third quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in SoFi Technologies during the third quarter valued at $47,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,008,870 shares of company stock worth $416,950,073. 2.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Needham & Company LLC lifted their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Barclays lifted their price objective 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. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $16.44 on Friday. The firm has a fifty day simple moving average of $15.84 and a two-hundred day simple moving average of $11.28. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The company has a market capitalization of $17.84 billion, a PE ratio of 44.43, a P/E/G ratio of 2.15 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the firm posted $0.04 earnings per share. Research analysts expect that SoFi Technologies, Inc. will post 0.28 EPS for the current year.

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.