Dimensional Fund Advisors LP Takes $38.60 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Dimensional Fund Advisors LP acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,877,322 shares of the company’s stock, valued at approximately $38,595,000. Dimensional Fund Advisors LP owned about 0.40% of SoFi Technologies as of its most recent SEC filing.

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

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto bought 28,775 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the acquisition, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were 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 approximately $2,706,968.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony Noto purchased 28,775 shares of SoFi Technologies 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 completion of the transaction, 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. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SOFI. Deutsche Bank Aktiengesellschaft dropped their price target on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research report on Tuesday, April 30th. Jefferies Financial Group dropped their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research report on Tuesday, March 26th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Citigroup initiated coverage on shares of SoFi Technologies in a research report on Monday, April 8th. They issued a “buy” rating and a $11.00 price target for the company. Finally, Wedbush restated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.08.

View Our Latest Research Report on SOFI

SoFi Technologies Trading Up 0.9 %

Shares of SOFI opened at $6.91 on Friday. SoFi Technologies, Inc. has a twelve month low of $5.59 and a twelve month high of $11.70. The company has a market cap of $7.31 billion, a P/E ratio of -22.29, a P/E/G ratio of 1.60 and a beta of 1.75. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $7.22 and its 200-day simple moving average is $7.80.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million for 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 1.10%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the prior year, the business posted ($0.05) earnings per share. As a group, analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

SoFi Technologies Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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