SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,934,983 shares of the company’s stock after buying an additional 315,899 shares during the quarter. Geode Capital Management LLC owned 1.65% of SoFi Technologies worth $276,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SOFI. HighPoint Advisor Group LLC raised its position in SoFi Technologies by 6.0% during the fourth quarter. HighPoint Advisor Group LLC now owns 74,961 shares of the company’s stock worth $1,112,000 after acquiring an additional 4,268 shares during the last quarter. Alliancebernstein L.P. increased its stake in shares of SoFi Technologies by 234.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,286,698 shares of the company’s stock worth $19,815,000 after purchasing an additional 901,865 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $325,000. O Shaughnessy Asset Management LLC lifted its stake in SoFi Technologies by 121.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 37,780 shares of the company’s stock valued at $582,000 after buying an additional 20,705 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in SoFi Technologies by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after buying an additional 685 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 10.1 %

Shares of SoFi Technologies stock opened at $9.57 on Friday. The business has a 50-day moving average price of $13.78 and a 200 day moving average price of $13.33. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The firm has a market cap of $10.49 billion, a P/E ratio of 25.86, a P/E/G ratio of 2.24 and a beta of 1.86. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the company posted $0.04 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares in the company, valued at $2,877,391.20. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SOFI. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. UBS Group upped their target price 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. Bank of America reaffirmed an “underperform” rating and set a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price 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.