Handelsbanken Fonder AB Has $3.88 Million Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Handelsbanken Fonder AB increased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 252,100 shares of the company's stock after purchasing an additional 25,500 shares during the period. Handelsbanken Fonder AB's holdings in SoFi Technologies were worth $3,882,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Captrust Financial Advisors raised its holdings in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock worth $233,000 after buying an additional 809 shares in the last quarter. Summit Trail Advisors LLC boosted its stake in SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after buying an additional 855 shares in the last quarter. CIBC Asset Management Inc grew its position in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock valued at $223,000 after acquiring an additional 962 shares during the period. Oak Harbor Wealth Partners LLC raised its stake in SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company's stock worth $86,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Procyon Advisors LLC lifted its holdings in shares of SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after acquiring an additional 1,000 shares during the period. Institutional investors own 38.43% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SOFI. William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. The Goldman Sachs Group boosted their price target 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. Jefferies Financial Group raised their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. Keefe, Bruyette & Woods reissued 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. Finally, Bank of America reaffirmed an "underperform" rating and set a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and an average price target of $12.50.

SoFi Technologies Trading Down 2.1 %

NASDAQ:SOFI traded down $0.30 during trading hours on Tuesday, hitting $14.07. 49,944,343 shares of the stock were exchanged, compared to its average volume of 44,787,309. The company's 50 day moving average is $15.65 and its two-hundred day moving average is $12.32. The company has a market capitalization of $15.26 billion, a P/E ratio of 37.90, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter last year, the firm earned $0.04 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. The trade was a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,008,465 shares of company stock worth $416,952,167. 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.