Independent Wealth Network Inc. Has $195,000 Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Independent Wealth Network Inc. boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 54.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,601 shares of the company’s stock after acquiring an additional 6,949 shares during the period. Independent Wealth Network Inc.’s holdings in SoFi Technologies were worth $195,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in SOFI. Westside Investment Management Inc. increased its stake in SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after acquiring an additional 1,500 shares during the period. Fortitude Family Office LLC bought a new stake in shares of SoFi Technologies during the 4th quarter worth $60,000. Parkside Investments LLC lifted its position in shares of SoFi Technologies by 0.4% during the 4th quarter. Parkside Investments LLC now owns 885,180 shares of the company’s stock worth $8,808,000 after buying an additional 3,100 shares during the last quarter. Chapin Davis Inc. acquired a new stake in SoFi Technologies in the fourth quarter valued at about $132,000. Finally, KMG Fiduciary Partners LLC bought a new position in SoFi Technologies in the fourth quarter valued at about $110,000. Institutional investors own 37.13% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 2.70% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on SOFI shares. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $6.50 target price (down previously from $7.50) on shares of SoFi Technologies in a report on Wednesday, January 3rd. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Morgan Stanley reiterated an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Mizuho cut their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Thursday, January 18th. Finally, Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Wednesday, March 6th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $8.78.

SoFi Technologies Price Performance

SoFi Technologies stock traded down $0.14 during midday trading on Friday, hitting $7.30. 23,190,362 shares of the company’s stock were exchanged, compared to its average volume of 58,123,266. SoFi Technologies, Inc. has a 52-week low of $4.45 and a 52-week high of $11.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The company has a market cap of $7.13 billion, a P/E ratio of -19.21 and a beta of 1.80. The stock has a 50-day moving average price of $7.92 and a two-hundred day moving average price of $8.05.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. During the same quarter last year, the company posted ($0.05) EPS. The business’s quarterly revenue was up 34.7% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.07 earnings per share for the current year.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.