Ardmore Road Asset Management LP Trims Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Ardmore Road Asset Management LP reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 37.5% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 500,000 shares of the company's stock after selling 300,000 shares during the period. Ardmore Road Asset Management LP's holdings in SoFi Technologies were worth $7,700,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SOFI. Trexquant Investment LP lifted its stake in SoFi Technologies by 282.0% in the fourth quarter. Trexquant Investment LP now owns 617,831 shares of the company's stock valued at $9,515,000 after buying an additional 456,096 shares during the last quarter. Geode Capital Management LLC raised its position in SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the last quarter. HighPoint Advisor Group LLC boosted its stake in SoFi Technologies by 6.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 74,961 shares of the company's stock worth $1,112,000 after purchasing an additional 4,268 shares during the period. Alliancebernstein L.P. grew its position in SoFi Technologies by 234.4% during the 4th quarter. Alliancebernstein L.P. now owns 1,286,698 shares of the company's stock worth $19,815,000 after purchasing an additional 901,865 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in SoFi Technologies in the fourth quarter valued at $325,000. 38.43% of the stock is owned by institutional investors and hedge funds.

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SoFi Technologies Price Performance

SOFI traded up $0.40 during trading on Wednesday, reaching $12.31. 54,724,492 shares of the stock were exchanged, compared to its average volume of 45,200,564. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of 33.27, a P/E/G ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The business's 50 day moving average price is $14.10 and its two-hundred day moving average price is $13.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the previous year, the business posted $0.04 EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

SOFI has been the topic of a number of research reports. Citigroup raised their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, Bank of America restated an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $12.50.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is owned by insiders.

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.