Charles Schwab Investment Management Inc. Raises Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,145,837 shares of the company's stock after purchasing an additional 87,097 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.58% of SoFi Technologies worth $48,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC grew its holdings in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after acquiring an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies during the 3rd quarter valued at about $47,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research note on Monday. Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Citigroup lowered shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $10.36.

SoFi Technologies Stock Down 3.0 %

Shares of SOFI traded down $0.50 during midday trading on Monday, hitting $15.91. The company had a trading volume of 52,188,469 shares, compared to its average volume of 47,534,703. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $16.61. The firm has a market capitalization of $17.26 billion, a P/E ratio of 164.10, a P/E/G ratio of 2.73 and a beta of 1.60. The company's 50-day simple moving average is $11.23 and its 200-day simple moving average is $8.53.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for 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 business's quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.03) EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % 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, EVP Kelli Keough sold 9,590 shares of the company's stock in a transaction on Wednesday, November 20th. The shares were 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 owns 142,613 shares of the company's stock, valued at $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,287 shares of company stock valued at $863,250. 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.