Thoroughbred Financial Services LLC Purchases New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

Thoroughbred Financial Services LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,820 shares of the company’s stock, valued at approximately $228,000.

A number of other hedge funds have also recently bought and sold shares of SOFI. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares during the last quarter. State Street Corp grew its stake in SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC increased its position in shares of SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock valued at $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Norges Bank bought a new stake in shares of SoFi Technologies during the 4th quarter worth $103,678,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock worth $97,230,000 after buying an additional 167,780 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred 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 approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,905 shares of company stock worth $1,308,075. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SOFI. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Bank of America restated 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 target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Up 3.0 %

Shares of SOFI opened at $9.86 on Tuesday. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The stock has a market cap of $10.81 billion, a PE ratio of 26.65, 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. The business’s 50-day moving average price is $13.66 and its 200-day moving average price is $13.38.

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

About SoFi Technologies

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.