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

Geode Capital Management LLC boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.8% during the 4th quarter, Holdings Channel reports. The fund owned 17,934,983 shares of the company’s stock after acquiring an additional 315,899 shares during the quarter. Geode Capital Management LLC’s holdings in SoFi Technologies were worth $276,288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

SoFi Technologies Stock Down 10.1 %

Shares of NASDAQ:SOFI opened at $9.57 on Friday. The firm has a 50 day simple moving average of $13.78 and a 200 day simple moving average of $13.33. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market cap of $10.49 billion, a PE ratio of 25.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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 period in the previous year, the firm earned $0.04 earnings per share. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies 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 completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $1,308,075 in the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on SOFI shares. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Finally, UBS Group upped their price target 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 equities research 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average 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.