SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Purchased by Alliancebernstein L.P.

Alliancebernstein L.P. increased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 234.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,286,698 shares of the company's stock after acquiring an additional 901,865 shares during the period. Alliancebernstein L.P. owned approximately 0.12% of SoFi Technologies worth $19,815,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SOFI. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares during the last quarter. State Street Corp increased its holdings in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock valued at $141,974,000 after buying an additional 310,532 shares during the last quarter. Geode Capital Management LLC raised its stake in SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company's stock valued at $138,523,000 after buying an additional 358,806 shares in the last quarter. Norges Bank purchased a new stake in SoFi Technologies during the 4th quarter worth about $103,678,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of SoFi Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after acquiring an additional 167,780 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SOFI shares. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Keefe, Bruyette & Woods restated an "underperform" rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. UBS Group lifted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Finally, Citigroup upped their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Performance

SOFI traded up $0.19 on Friday, hitting $10.71. 42,703,989 shares of the company traded hands, compared to its average volume of 45,999,397. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a 50 day moving average of $13.02 and a 200-day moving average of $13.41. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $11.74 billion, a PE ratio of 28.95, a PEG ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the firm earned $0.04 earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,905 shares of company stock worth $1,308,075. Company insiders own 2.60% of the company's stock.

About SoFi Technologies

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.