Empowered Funds LLC Has $324,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Empowered Funds LLC boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 41,277 shares of the company’s stock after acquiring an additional 1,951 shares during the period. Empowered Funds LLC’s holdings in SoFi Technologies were worth $324,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after purchasing an additional 690,638 shares during the last quarter. Marshall Wace LLP increased its holdings in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of SoFi Technologies by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company’s stock worth $20,604,000 after purchasing an additional 443,198 shares during the last quarter. Finally, Mizuho Markets Americas LLC lifted its holdings in shares of SoFi Technologies by 403.4% in the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after purchasing an additional 2,440,745 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 96,287 shares of company stock worth $863,250 over the last quarter. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SOFI. The Goldman Sachs Group upped their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.80.

SoFi Technologies Trading Up 0.6 %

NASDAQ:SOFI opened at $15.70 on Tuesday. The firm’s 50 day moving average is $10.59 and its 200 day moving average is $8.28. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $16.09. The stock has a market capitalization of $17.04 billion, a PE ratio of 157.02, a price-to-earnings-growth ratio of 2.59 and a beta of 1.60. 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 (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same quarter in the prior year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was up 29.8% compared to the same quarter last year. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current 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.