Miller Financial Services LLC Makes New $1.81 Million Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

Miller Financial Services LLC purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 117,504 shares of the company’s stock, valued at approximately $1,810,000. SoFi Technologies comprises 1.5% of Miller Financial Services LLC’s holdings, making the stock its 14th biggest holding.

Other institutional investors have also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in SoFi Technologies during the fourth quarter worth approximately $3,703,000. Hanseatic Management Services Inc. acquired a new position in SoFi Technologies during the fourth quarter worth approximately $1,116,000. Kercheville Advisors LLC acquired a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,594,000. Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Finally, Zacks Investment Management acquired a new position in shares of SoFi Technologies in the third quarter valued at approximately $3,766,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on SOFI shares. Needham & Company LLC upped their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. UBS Group upped their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Down 11.2 %

Shares of SOFI stock opened at $11.18 on Tuesday. The company has a 50 day moving average of $15.15 and a 200-day moving average of $12.77. 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 12-month low of $6.01 and a 12-month high of $18.42. The firm has a market cap of $12.26 billion, a P/E ratio of 30.22, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share 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 business posted $0.04 earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,004 shares of company stock valued at $2,292,100 over the last three months. Insiders own 2.60% of the company’s stock.

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.