Ameriprise Financial Inc. Boosts Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Ameriprise Financial Inc. boosted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 4.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 696,799 shares of the company’s stock after acquiring an additional 27,367 shares during the quarter. Ameriprise Financial Inc. owned 0.06% of SoFi Technologies worth $10,731,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Algert Global LLC lifted its position in shares of SoFi Technologies by 14.3% during the fourth quarter. Algert Global LLC now owns 310,367 shares of the company’s stock worth $4,780,000 after purchasing an additional 38,881 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in SoFi Technologies by 17.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 172,984 shares of the company’s stock worth $2,664,000 after buying an additional 25,480 shares during the period. Voleon Capital Management LP acquired a new stake in SoFi Technologies during the 4th quarter worth approximately $2,031,000. Utah Retirement Systems boosted its position in SoFi Technologies by 2.8% in the 4th quarter. Utah Retirement Systems now owns 175,300 shares of the company’s stock valued at $2,700,000 after buying an additional 4,800 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth $1,963,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares of the company’s stock, valued at $2,877,391.20. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,172 shares of company stock worth $1,271,115. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $13.73 on Tuesday. The company has a fifty day moving average of $12.11 and a two-hundred day moving average of $13.99. The company has a market capitalization of $15.18 billion, a PE ratio of 37.11, a P/E/G ratio of 2.24 and a beta of 1.84. 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 current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business’s revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. As a group, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on SOFI shares. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Citizens Jmp started coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 target price on the stock. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. JMP Securities initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 price objective on the stock. Finally, Barclays raised their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $14.38.

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.