Miller Financial Services LLC Takes $1.81 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Miller Financial Services LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 117,504 shares of the company's stock, valued at approximately $1,810,000. SoFi Technologies accounts for 1.5% of Miller Financial Services LLC's portfolio, making the stock its 14th biggest holding.

A number of other large investors have also modified their holdings of the company. FNY Investment Advisers LLC increased its stake 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 valued at $33,000 after buying an additional 1,905 shares in the last quarter. Capital Performance Advisors LLP bought a new position in SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the third quarter worth about $28,000. AdvisorNet Financial Inc boosted its holdings in SoFi Technologies by 63.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company's stock worth $84,000 after buying an additional 2,130 shares during the last quarter. Finally, SOA Wealth Advisors LLC. grew its position in shares of SoFi Technologies by 33.1% in the 4th quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company's stock valued at $87,000 after purchasing an additional 1,400 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on SOFI shares. Needham & Company LLC boosted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a report on Monday, December 2nd. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and a consensus target price of $12.50.

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SoFi Technologies Price Performance

Shares of SOFI traded up $0.73 during midday trading on Wednesday, reaching $11.99. The stock had a trading volume of 38,930,469 shares, compared to its average volume of 46,836,883. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company's 50-day moving average is $15.07 and its 200 day moving average is $12.80. The company has a market capitalization of $13.14 billion, a price-to-earnings ratio of 32.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping 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 quarter in the prior year, the business posted $0.04 EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the firm's stock in a transaction on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares of the company's stock, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders have sold 144,004 shares of company stock valued at $2,292,100. 2.60% of the stock is owned by company insiders.

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.