Swiss National Bank Cuts Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Swiss National Bank cut its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,778,800 shares of the company’s stock after selling 190,300 shares during the period. Swiss National Bank’s holdings in SoFi Technologies were worth $17,699,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in SoFi Technologies during the 4th quarter valued at approximately $27,000. Westside Investment Management Inc. raised its position in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after purchasing an additional 1,500 shares during the period. CNB Bank bought a new stake in SoFi Technologies in the fourth quarter valued at $50,000. Orion Capital Management LLC boosted its stake in SoFi Technologies by 66.7% during the 4th quarter. Orion Capital Management LLC now owns 5,000 shares of the company’s stock valued at $50,000 after purchasing an additional 2,000 shares during the period. Finally, Fortitude Family Office LLC acquired a new position in SoFi Technologies during the 4th quarter worth $60,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SOFI. Deutsche Bank Aktiengesellschaft dropped their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Tuesday, April 30th. Morgan Stanley restated 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. Mizuho reduced their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Finally, Wedbush restated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $9.08.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Noto bought 28,775 shares of the stock in a transaction on Friday, May 3rd. The shares were acquired at an average cost of $6.90 per share, with a total value of $198,547.50. Following the acquisition, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 0.1 %

Shares of SOFI opened at $7.06 on Friday. SoFi Technologies, Inc. has a 12 month low of $4.45 and a 12 month high of $11.70. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of -22.77 and a beta of 1.75. The company has a 50-day moving average price of $7.36 and a two-hundred day moving average price of $7.83. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.05) EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.08 EPS 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.