Vontobel Holding Ltd. Buys 79,104 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Vontobel Holding Ltd. boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 34.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 306,019 shares of the company’s stock after buying an additional 79,104 shares during the quarter. Vontobel Holding Ltd.’s holdings in SoFi Technologies were worth $3,045,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in SOFI. Fairfield Bush & CO. lifted its holdings in shares of SoFi Technologies by 41.6% in the 1st quarter. Fairfield Bush & CO. now owns 16,000 shares of the company’s stock worth $151,000 after buying an additional 4,700 shares during the period. Bank of New York Mellon Corp lifted its stake in SoFi Technologies by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 1,266,962 shares of the company’s stock worth $11,973,000 after acquiring an additional 22,288 shares during the period. US Bancorp DE grew its holdings in SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after acquiring an additional 2,000 shares in the last quarter. Panagora Asset Management Inc. purchased a new position in SoFi Technologies during the 1st quarter valued at about $435,000. Finally, Cibc World Market Inc. raised its holdings in shares of SoFi Technologies by 4.7% in the 1st quarter. Cibc World Market Inc. now owns 54,765 shares of the company’s stock valued at $518,000 after purchasing an additional 2,454 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Trading Down 0.4 %

Shares of SoFi Technologies stock opened at $7.13 on Friday. SoFi Technologies, Inc. has a 12-month low of $4.45 and a 12-month high of $11.70. The firm’s 50 day simple moving average is $7.74 and its two-hundred day simple moving average is $7.91. The company has a current ratio of 1.04, a quick ratio of 0.23 and a debt-to-equity ratio of 1.00. The firm has a market capitalization of $6.96 billion, a price-to-earnings ratio of -18.76 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last released its 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 firm had revenue of $615.40 million for the quarter, compared to the consensus estimate of $572.02 million. During the same period in the prior year, the firm earned ($0.05) EPS. The firm’s revenue was up 34.7% on a year-over-year basis. Analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on SOFI. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Citigroup started coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 price target on the stock. Mizuho decreased their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Morgan Stanley reiterated an “underweight” rating and issued a $6.50 target price (down previously from $7.00) on shares of SoFi Technologies in a research note on Wednesday, January 31st. Finally, Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and increased their price target for the company from $6.50 to $7.50 in a research report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average target price of $9.08.

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.