Prospera Financial Services Inc Grows Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Posted by Defense World Staff on May 14th, 2023

Prospera Financial Services Inc raised its position in SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 128.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,920 shares of the company’s stock after buying an additional 43,197 shares during the period. Prospera Financial Services Inc’s holdings in SoFi Technologies were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. V Wealth Advisors LLC increased its holdings in SoFi Technologies by 5.7% in the fourth quarter. V Wealth Advisors LLC now owns 33,593 shares of the company’s stock valued at $155,000 after buying an additional 1,800 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of SoFi Technologies by 7.3% during the third quarter. Mercer Global Advisors Inc. ADV now owns 27,882 shares of the company’s stock worth $136,000 after purchasing an additional 1,904 shares in the last quarter. Psagot Value Holdings Ltd. Israel increased its stake in shares of SoFi Technologies by 50.0% during the fourth quarter. Psagot Value Holdings Ltd. Israel now owns 6,000 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares in the last quarter. US Bancorp DE increased its stake in shares of SoFi Technologies by 197.0% during the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Macquarie Group Ltd. increased its stake in shares of SoFi Technologies by 10.3% during the second quarter. Macquarie Group Ltd. now owns 24,600 shares of the company’s stock worth $130,000 after purchasing an additional 2,293 shares in the last quarter. Hedge funds and other institutional investors own 34.32% of the company’s stock.

Insider Transactions at SoFi Technologies

In related news, CEO Anthony Noto acquired 180,000 shares of the firm’s stock in a transaction dated Friday, March 10th. The shares were purchased at an average cost of $5.53 per share, for a total transaction of $995,400.00. Following the acquisition, the chief executive officer now owns 5,984,110 shares in the company, valued at approximately $33,092,128.30. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 81,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $6.46, for a total transaction of $523,260.00. Following the sale, the chief technology officer now directly owns 161,944 shares in the company, valued at approximately $1,046,158.24. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Anthony Noto bought 180,000 shares of SoFi Technologies stock in a transaction on Friday, March 10th. The shares were acquired at an average price of $5.53 per share, for a total transaction of $995,400.00. Following the completion of the acquisition, the chief executive officer now owns 5,984,110 shares in the company, valued at $33,092,128.30. The disclosure for this purchase can be found here. In the last three months, insiders have purchased 233,926 shares of company stock worth $1,271,906. 13.00% of the stock is currently owned by insiders.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $5.02 on Friday. The firm’s 50 day moving average price is $5.71 and its 200-day moving average price is $5.57. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.27 and a current ratio of 2.00. SoFi Technologies, Inc. has a one year low of $4.24 and a one year high of $8.52. The firm has a market cap of $4.69 billion, a P/E ratio of -16.19 and a beta of 1.65.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last issued its quarterly earnings data on Monday, May 1st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.03. SoFi Technologies had a negative net margin of 13.72% and a negative return on equity of 4.71%. The firm had revenue of $460.20 million for the quarter, compared to analyst estimates of $436.78 million. During the same period in the prior year, the business posted ($0.14) EPS. The business’s revenue for the quarter was up 43.1% compared to the same quarter last year. As a group, equities research analysts predict that SoFi Technologies, Inc. will post -0.17 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on SOFI. JPMorgan Chase & Co. began coverage on shares of SoFi Technologies in a research note on Tuesday, January 17th. They set a “neutral” rating and a $6.00 target price for the company. Wedbush cut shares of SoFi Technologies from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $8.00 to $5.00 in a research note on Tuesday, May 2nd. Morgan Stanley upped their price objective on shares of SoFi Technologies from $6.00 to $6.50 and gave the company an “equal weight” rating in a research note on Wednesday, February 8th. Mizuho upped their price objective on shares of SoFi Technologies from $6.00 to $9.00 and gave the company a “buy” rating in a research note on Wednesday, February 15th. Finally, Oppenheimer upped their price objective on shares of SoFi Technologies from $6.00 to $7.00 and gave the company an “outperform” rating in a research note on Tuesday, January 31st. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.45.

About SoFi Technologies

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.