Maridea Wealth Management LLC Acquires Shares of 52,096 SoFi Technologies, Inc. (NASDAQ:SOFI)

Maridea Wealth Management LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 52,096 shares of the company's stock, valued at approximately $802,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of SOFI. Level Four Advisory Services LLC lifted its stake in shares of SoFi Technologies by 28.2% in the fourth quarter. Level Four Advisory Services LLC now owns 39,230 shares of the company's stock valued at $604,000 after buying an additional 8,630 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in SoFi Technologies by 64.4% during the 4th quarter. Orion Portfolio Solutions LLC now owns 35,493 shares of the company's stock worth $547,000 after acquiring an additional 13,908 shares during the last quarter. Pictet Asset Management Holding SA grew its stake in shares of SoFi Technologies by 9.7% in the 4th quarter. Pictet Asset Management Holding SA now owns 147,458 shares of the company's stock worth $2,271,000 after acquiring an additional 13,088 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings 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 last quarter. Finally, Norges Bank bought a new position in shares of SoFi Technologies during the fourth quarter valued at about $103,678,000. 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 business's 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 directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, 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. Insiders sold 97,905 shares of company stock valued at $1,308,075 over the last three months. Insiders own 2.60% of the company's stock.

SoFi Technologies Stock Up 3.6 %

Shares of SoFi Technologies stock traded up $0.42 on Tuesday, reaching $12.05. The company's stock had a trading volume of 19,673,152 shares, compared to its average volume of 44,938,978. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The firm's fifty day simple moving average is $14.32 and its two-hundred day simple moving average is $13.28. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $13.21 billion, a price-to-earnings ratio of 32.57, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 period in the prior year, the business posted $0.04 earnings per share. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SOFI. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Bank of America restated an "underperform" rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley lifted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Finally, Citigroup increased their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $12.50.

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.