First Trust Advisors LP Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

First Trust Advisors LP boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 583.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,686,667 shares of the company's stock after buying an additional 2,293,622 shares during the quarter. First Trust Advisors LP owned 0.25% of SoFi Technologies worth $41,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in SoFi Technologies by 9.9% during the fourth 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 period. Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter valued at $103,678,000. Amundi boosted its stake in shares of SoFi Technologies by 58,176.3% in the 4th quarter. Amundi now owns 2,705,185 shares of the company's stock worth $39,360,000 after buying an additional 2,700,543 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of SoFi Technologies by 123.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,740,628 shares of the company's stock worth $40,671,000 after acquiring an additional 1,512,326 shares during the period. Finally, Raymond James Financial Inc. bought a new position in SoFi Technologies in the fourth quarter valued at about $14,479,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $11.77 on Thursday. The company has a market capitalization of $12.90 billion, a P/E ratio of 31.80, a P/E/G ratio of 2.24 and a beta of 1.86. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The business's 50-day moving average is $12.35 and its 200 day moving average is $13.55. 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 (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (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 quarter in the prior year, the business earned $0.04 EPS. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the sale, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,172 shares of company stock valued at $1,271,115 over the last ninety days. 2.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. UBS Group boosted their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Finally, Needham & Company LLC boosted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $12.50.

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.

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