Raymond James Financial Inc. Makes New $14.48 Million Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Raymond James Financial Inc. acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 940,168 shares of the company's stock, valued at approximately $14,479,000. Raymond James Financial Inc. owned about 0.09% of SoFi Technologies as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of SOFI. Virtu Financial LLC bought a new stake in SoFi Technologies in the third quarter worth about $1,649,000. World Investment Advisors LLC raised its holdings in shares of SoFi Technologies by 6.5% in the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company's stock worth $171,000 after purchasing an additional 1,336 shares during the period. GAMMA Investing LLC lifted its stake in SoFi Technologies by 40.3% in the fourth quarter. GAMMA Investing LLC now owns 5,925 shares of the company's stock valued at $91,000 after purchasing an additional 1,703 shares during the last quarter. Everence Capital Management Inc. bought a new position in SoFi Technologies during the fourth quarter valued at $498,000. Finally, Waller Financial Planning Group Inc. raised its stake in shares of SoFi Technologies by 3,027.5% in the fourth quarter. Waller Financial Planning Group Inc. now owns 10,227 shares of the company's stock valued at $157,000 after buying an additional 9,900 shares during the period. Institutional investors own 38.43% of the company's stock.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares of the company's stock, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 100,172 shares of company stock valued at $1,271,115. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.56 during mid-day trading on Thursday, reaching $12.30. 58,762,050 shares of the company were exchanged, compared to its average volume of 46,476,638. The stock has a market capitalization of $13.49 billion, a PE ratio of 33.24, a PEG ratio of 2.24 and a beta of 1.86. 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 52 week low of $6.01 and a 52 week high of $18.42. The company's 50 day moving average price is $12.35 and its 200 day moving average price is $13.55.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate 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 quarter last year, the firm posted $0.04 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SOFI shares. UBS Group lifted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Finally, William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus price target of $12.50.

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.