QRG Capital Management Inc. Raises Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

QRG Capital Management Inc. boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 280,791 shares of the company’s stock after purchasing an additional 24,713 shares during the quarter. QRG Capital Management Inc.’s holdings in SoFi Technologies were worth $4,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SOFI. Proficio Capital Partners LLC purchased a new position in SoFi Technologies in the fourth quarter worth $513,000. Oppenheimer & Co. Inc. boosted its position in shares of SoFi Technologies by 47.9% in the 4th quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company’s stock worth $5,628,000 after purchasing an additional 118,288 shares in the last quarter. Nwam LLC boosted its position in shares of SoFi Technologies by 11.3% in the 4th quarter. Nwam LLC now owns 44,635 shares of the company’s stock worth $687,000 after purchasing an additional 4,531 shares in the last quarter. Bank of New York Mellon Corp grew its stake in SoFi Technologies by 0.3% during the 4th quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company’s stock worth $49,640,000 after buying an additional 8,218 shares during the last quarter. Finally, Prasad Wealth Partners LLC acquired a new position in SoFi Technologies during the 4th quarter valued at about $182,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Up 2.8 %

Shares of SOFI opened at $14.47 on Friday. The stock’s 50-day moving average price is $15.54 and its 200-day moving average price is $12.46. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $15.70 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 2.24 and a beta of 1.78. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 quarter in the previous year, the business posted $0.04 EPS. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

SOFI has been the subject of several recent analyst reports. Needham & Company LLC raised their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Citigroup raised their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Finally, UBS Group boosted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $12.50.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,008,465 shares of company stock worth $416,952,167. Company 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.