SoFi Technologies, Inc. (NASDAQ:SOFI) Position Increased by Handelsbanken Fonder AB

Handelsbanken Fonder AB raised its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 17.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 156,800 shares of the company’s stock after buying an additional 22,900 shares during the quarter. Handelsbanken Fonder AB’s holdings in SoFi Technologies were worth $1,560,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. CWM LLC lifted its position in shares of SoFi Technologies by 183.7% in the fourth quarter. CWM LLC now owns 38,721 shares of the company’s stock worth $385,000 after purchasing an additional 25,072 shares in the last quarter. CNB Bank purchased a new stake in shares of SoFi Technologies in the fourth quarter worth approximately $50,000. OLD Second National Bank of Aurora lifted its position in shares of SoFi Technologies by 21.2% in the fourth quarter. OLD Second National Bank of Aurora now owns 318,367 shares of the company’s stock worth $3,168,000 after purchasing an additional 55,607 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of SoFi Technologies in the fourth quarter worth $103,000. Finally, KLCM Advisors Inc. acquired a new stake in shares of SoFi Technologies in the fourth quarter worth $244,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 3.7 %

Shares of NASDAQ SOFI opened at $7.87 on Friday. The stock has a market cap of $7.69 billion, a PE ratio of -20.71 and a beta of 1.75. The business has a fifty day moving average of $7.64 and a two-hundred day moving average of $7.90. SoFi Technologies, Inc. has a 52-week low of $4.45 and a 52-week high of $11.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $572.02 million. During the same period in the previous year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 34.7% compared to the same quarter last year. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Wedbush restated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Wednesday, March 6th. Citigroup assumed coverage on shares of SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective on the stock. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their target price for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Mizuho reduced their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.08.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies 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.