Clay Northam Wealth Management LLC Purchases 1,329 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Clay Northam Wealth Management LLC boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 8.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,665 shares of the company’s stock after acquiring an additional 1,329 shares during the quarter. Clay Northam Wealth Management LLC’s holdings in SoFi Technologies were worth $194,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SOFI. Elequin Capital LP raised its position in shares of SoFi Technologies by 30.1% in the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock valued at $42,000 after purchasing an additional 631 shares during the period. CIBC Private Wealth Group LLC raised its position in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after purchasing an additional 685 shares during the period. Bank of New Hampshire raised its position in shares of SoFi Technologies by 33.3% in the first quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock valued at $47,000 after purchasing an additional 1,000 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of SoFi Technologies by 33.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock valued at $68,000 after purchasing an additional 1,100 shares during the period. Finally, Compass Capital Corp MA ADV increased its position in SoFi Technologies by 12.6% during the first quarter. Compass Capital Corp MA ADV now owns 11,260 shares of the company’s stock worth $131,000 after acquiring an additional 1,260 shares during the period. 38.43% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SOFI. Citizens Jmp began coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an “outperform” rating and a $17.00 price target on the stock. Truist Financial began coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a “hold” rating and a $14.00 price target on the stock. 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. Stephens began coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an “overweight” rating and a $20.00 price target on the stock. Finally, Barclays raised their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $14.73.

SoFi Technologies Trading Up 2.4%

Shares of SoFi Technologies stock opened at $17.18 on Friday. The company has a market capitalization of $18.99 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 2.91 and a beta of 1.82. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The firm’s 50-day moving average price is $13.76 and its two-hundred day moving average price is $13.96.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president now directly owns 203,509 shares of the company’s stock, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the sale, the chief technology officer now directly owns 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,095 shares of company stock valued at $3,939,168. 2.60% of the stock is owned by insiders.

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.