Charles Schwab Investment Management Inc. Has $75.28 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Charles Schwab Investment Management Inc. boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,472,726 shares of the company’s stock after purchasing an additional 159,109 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.59% of SoFi Technologies worth $75,278,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the period. Two Sigma Advisers LP acquired a new stake in SoFi Technologies in the 4th quarter valued at $299,980,000. Northern Trust Corp grew its position in SoFi Technologies by 22.7% in the 4th quarter. Northern Trust Corp now owns 6,052,301 shares of the company’s stock valued at $93,205,000 after purchasing an additional 1,121,550 shares during the period. Voloridge Investment Management LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at $75,139,000. Finally, Azora Capital LP grew its position in SoFi Technologies by 1.6% in the 4th quarter. Azora Capital LP now owns 4,419,345 shares of the company’s stock valued at $68,058,000 after purchasing an additional 71,277 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In related news, Director Magdalena Yesil sold 87,140 shares of the business’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director directly owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,267 shares of the business’s stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $21.80, for a total value of $223,820.60. Following the completion of the sale, the executive vice president owned 245,200 shares in the company, valued at $5,345,360. This represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,181 shares of company stock worth $4,043,240. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of analyst reports. Mizuho set a $26.00 price objective on shares of SoFi Technologies and gave the stock an “outperform” rating in a report on Thursday, July 31st. TD Cowen initiated coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a “hold” rating and a $21.00 price objective on the stock. Redburn Atlantic raised shares of SoFi Technologies to a “hold” rating in a report on Friday, August 1st. The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a report on Monday, July 14th. They set a “neutral” rating and a $19.00 price objective on the stock. Finally, Barclays lifted their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $18.29.

SoFi Technologies Trading Up 0.7%

Shares of SoFi Technologies stock opened at $23.81 on Thursday. SoFi Technologies, Inc. has a 52-week low of $6.56 and a 52-week high of $25.11. The stock’s 50-day simple moving average is $19.03 and its 200 day simple moving average is $15.17. The stock has a market capitalization of $26.32 billion, a P/E ratio of 49.60, a P/E/G ratio of 2.94 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%. The business had revenue of $519.37 million for the quarter, compared to analysts’ expectations of $801.94 million. During the same period in the previous year, the business posted $0.01 EPS. The firm’s quarterly revenue was up 42.8% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.