SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. raised its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,337,045 shares of the company’s stock after acquiring an additional 8,898,879 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of SoFi Technologies worth $1,514,390,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. lifted its position in shares of SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock worth $9,560,000 after purchasing an additional 620,800 shares during the last quarter. SBI Securities Co. Ltd. acquired a new stake in SoFi Technologies during the fourth quarter valued at approximately $3,703,000. Hanseatic Management Services Inc. acquired a new stake in SoFi Technologies during the fourth quarter valued at approximately $1,116,000. Kercheville Advisors LLC bought a new position in SoFi Technologies during the 4th quarter worth approximately $1,594,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $12.20 on Friday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 32.97, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The business has a 50 day simple moving average of $14.51 and a 200 day simple moving average of $13.14.

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

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,905 shares of company stock valued at $1,308,075. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on SOFI. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Needham & Company LLC lifted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.50.

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.