Truist Financial Corp Grows Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) – Defense World
Posted by admin on Jul 24th, 2022 
Truist Financial Corp grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 55.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 103,311 shares of the company’s stock after acquiring an additional 36,929 shares during the period. Truist Financial Corp’s holdings in SoFi Technologies were worth $977,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in SOFI. SOA Wealth Advisors LLC. raised its stake in shares of SoFi Technologies by 113.3% during the 1st quarter. SOA Wealth Advisors LLC. now owns 3,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,700 shares during the period. Amplius Wealth Advisors LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at about $31,000. Nvwm LLC lifted its holdings in shares of SoFi Technologies by 116.4% in the fourth quarter. Nvwm LLC now owns 3,322 shares of the company’s stock worth $53,000 after buying an additional 1,787 shares in the last quarter. Reitz Capital Advisors LLC bought a new position in shares of SoFi Technologies in the first quarter valued at approximately $56,000. Finally, Pacer Advisors Inc. purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $67,000. 56.45% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the company. Piper Sandler decreased their target price on SoFi Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 29th. Moffett Nathanson started coverage on shares of SoFi Technologies in a report on Tuesday, April 5th. They set a “buy” rating and a $13.00 price objective for the company. Mizuho cut their target price on shares of SoFi Technologies from $9.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, July 7th. Bank of America lowered their price target on SoFi Technologies from $12.00 to $7.00 in a research report on Tuesday, May 10th. Finally, Oppenheimer cut their price objective on SoFi Technologies from $18.00 to $13.00 and set an “outperform” rating for the company in a report on Thursday, April 7th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.73.
In related news, Director Harvey M. Schwartz purchased 15,000 shares of the firm’s stock in a transaction on Friday, May 13th. The shares were acquired at an average cost of $6.50 per share, with a total value of $97,500.00. Following the purchase, the director now directly owns 229,852 shares of the company’s stock, valued at $1,494,038. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Anthony Noto purchased 13,500 shares of the firm’s stock in a transaction on Thursday, May 19th. The shares were acquired at an average cost of $7.79 per share, with a total value of $105,165.00. Following the purchase, the chief executive officer now directly owns 3,212,839 shares of the company’s stock, valued at $25,028,015.81. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Harvey M. Schwartz acquired 15,000 shares of the business’s stock in a transaction dated Friday, May 13th. The stock was acquired at an average price of $6.50 per share, for a total transaction of $97,500.00. Following the completion of the transaction, the director now owns 229,852 shares in the company, valued at approximately $1,494,038. The disclosure for this purchase can be found here. Insiders have purchased 257,753 shares of company stock valued at $1,561,711 in the last ninety days. Company insiders own 13.00% of the company’s stock.
Shares of NASDAQ SOFI opened at $6.62 on Friday. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of -8.07 and a beta of 1.39. The company has a current ratio of 5.60, a quick ratio of 5.60 and a debt-to-equity ratio of 0.94. SoFi Technologies, Inc. has a 1-year low of $4.82 and a 1-year high of $24.65. The stock’s 50-day moving average is $6.39 and its 200 day moving average is $8.67.
SoFi Technologies (NASDAQ:SOFI – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). The business had revenue of $321.70 million for the quarter, compared to analysts’ expectations of $283.99 million. SoFi Technologies had a negative return on equity of 9.24% and a negative net margin of 36.32%. The firm’s revenue for the quarter was up 48.9% compared to the same quarter last year. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post -0.45 EPS for the current fiscal year.
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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.
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