Avanza Fonder AB Takes $1.01 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Avanza Fonder AB bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 65,427 shares of the company's stock, valued at approximately $1,008,000.

Several other hedge funds have also recently added to or reduced their stakes in SOFI. FNY Investment Advisers LLC lifted its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after purchasing an additional 1,905 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $28,000. Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the 3rd quarter worth approximately $39,000. Finally, AdvisorNet Financial Inc increased its holdings in SoFi Technologies by 63.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company's stock valued at $84,000 after purchasing an additional 2,130 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of the business's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm's stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Insiders have sold a total of 25,999,956 shares of company stock valued at $416,793,365 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently commented on the company. Citigroup increased their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a report on Tuesday, January 14th. Barclays raised their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Finally, Mizuho boosted their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $11.71.

SoFi Technologies Trading Up 1.2 %

Shares of NASDAQ:SOFI traded up $0.20 during midday trading on Monday, hitting $16.50. The company had a trading volume of 40,249,333 shares, compared to its average volume of 36,048,924. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $17.19. The firm has a fifty day simple moving average of $15.32 and a 200 day simple moving average of $10.69. The stock has a market cap of $17.90 billion, a price-to-earnings ratio of 165.02, a PEG ratio of 0.96 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company's revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) EPS. On average, analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

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.