Raymond James Financial Inc. Takes $14.48 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Raymond James Financial Inc. purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 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 institutional investors also recently bought and sold shares of SOFI. Captrust Financial Advisors grew its stake in shares of SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after buying an additional 809 shares during the period. Summit Trail Advisors LLC grew its stake in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after buying an additional 855 shares during the period. CIBC Asset Management Inc grew its stake in shares of SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock valued at $223,000 after buying an additional 962 shares during the period. Procyon Advisors LLC grew its stake in shares of SoFi Technologies by 8.0% during the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after buying an additional 1,000 shares during the period. Finally, Game Plan Financial Advisors LLC grew its stake in shares of SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock valued at $128,000 after buying an additional 1,000 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 106,819 shares of company stock worth $1,447,044 over the last quarter. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Up 1.8 %

Shares of SoFi Technologies stock traded up $0.23 during trading on Friday, reaching $12.87. The company had a trading volume of 39,978,435 shares, compared to its average volume of 44,430,433. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 34.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The firm's fifty day moving average is $14.67 and its 200-day moving average is $12.97. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period last year, the firm posted $0.04 EPS. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on the stock. The Goldman Sachs Group boosted their price objective 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. Needham & Company LLC upped their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Finally, Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and a consensus price target of $12.50.

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.