Trueblood Wealth Management LLC Purchases 6,721 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Trueblood Wealth Management LLC lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 30.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,824 shares of the company’s stock after buying an additional 6,721 shares during the quarter. Trueblood Wealth Management LLC’s holdings in SoFi Technologies were worth $227,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. grew its holdings in SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after acquiring an additional 86,545 shares in the last quarter. Mark Asset Management LP lifted its position in shares of SoFi Technologies by 79.9% in the 2nd quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after purchasing an additional 151,265 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in shares of SoFi Technologies by 64.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock valued at $1,948,000 after purchasing an additional 115,316 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its holdings in SoFi Technologies by 233.3% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock valued at $661,000 after buying an additional 70,000 shares during the period. Finally, Axxcess Wealth Management LLC bought a new position in SoFi Technologies in the first quarter worth approximately $185,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Keefe, Bruyette & Woods decreased their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $9.25.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Up 0.5 %

SoFi Technologies stock opened at $10.99 on Friday. The stock has a 50-day moving average price of $8.31 and a 200 day moving average price of $7.44. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of -45.79, a price-to-earnings-growth ratio of 2.08 and a beta of 1.70. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $11.34. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The business had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.06) EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

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.