Allworth Financial LP Increases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Allworth Financial LP lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 494.3% during the 4th quarter, HoldingsChannel reports. The fund owned 90,256 shares of the company’s stock after acquiring an additional 75,069 shares during the period. Allworth Financial LP’s holdings in SoFi Technologies were worth $1,390,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of SOFI. State Street Corp raised its stake in SoFi Technologies by 1.7% during the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC grew its position in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after acquiring an additional 358,806 shares during the period. Charles Schwab Investment Management Inc. increased its stake in SoFi Technologies by 1.4% during the third 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 during the last quarter. Azora Capital LP raised its holdings in shares of SoFi Technologies by 8.8% in the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after purchasing an additional 352,901 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,999,280 shares of company stock worth $416,810,442. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of research analyst reports. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Up 3.8 %

Shares of NASDAQ SOFI opened at $16.83 on Wednesday. The firm has a market cap of $18.26 billion, a price-to-earnings ratio of 45.49, a PEG ratio of 2.04 and a beta of 1.77. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year 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 stock’s 50-day simple moving average is $15.73 and its 200-day simple moving average is $12.08.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 company posted $0.04 earnings per share. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

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.