Fmr LLC Grows Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

FMR LLC increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 154.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,632 shares of the company's stock after buying an additional 56,279 shares during the period. FMR LLC's holdings in SoFi Technologies were worth $728,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP raised its stake in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after buying an additional 3,593,464 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after buying an additional 87,097 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after acquiring an additional 2,688,847 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of SoFi Technologies by 16.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company's stock valued at $20,604,000 after acquiring an additional 443,198 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the topic of a number of recent research reports. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Barclays raised their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. The Goldman Sachs Group increased 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. Finally, 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 report on Monday, December 2nd. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average target price of $10.50.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares of the company's stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bashir Ruzwana sold 52,000 shares of the business's stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the transaction, the director now directly owns 25,937 shares of the company's stock, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,012,748 shares of company stock valued at $416,356,356 over the last 90 days. Insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

SOFI traded down $1.42 on Wednesday, reaching $15.24. 75,884,469 shares of the stock were exchanged, compared to its average volume of 47,756,523. The company's 50-day moving average price is $13.30 and its 200 day moving average price is $9.33. 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 firm has a market capitalization of $16.54 billion, a PE ratio of 152.42, a PEG ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $17.19.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. SoFi Technologies's revenue for the quarter was up 29.8% on a year-over-year basis. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

SoFi Technologies Profile

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.