Vanguard Group Inc. Increases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,337,045 shares of the company’s stock after purchasing an additional 8,898,879 shares during the period. Vanguard Group Inc. owned about 9.06% of SoFi Technologies worth $1,514,390,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies in the fourth quarter worth $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies during the third quarter valued at $28,000. Hollencrest Capital Management purchased a new stake in SoFi Technologies during the 4th quarter worth about $31,000. FNY Investment Advisers LLC raised its stake in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares during the last quarter. Finally, IAG Wealth Partners LLC purchased a new position in SoFi Technologies in the 4th quarter valued at about $38,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 over the last 90 days. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 6.7 %

Shares of NASDAQ SOFI opened at $12.20 on Friday. The stock has a fifty day moving average price of $14.51 and a 200 day moving average price of $13.14. The company has a current ratio of 0.49, a quick ratio of 0.18 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 company has a market cap of $13.38 billion, a P/E ratio of 32.97, a P/E/G ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the company earned $0.04 earnings per share. Research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of analyst reports. Citigroup boosted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Needham & Company LLC increased their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Company 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.