Harvest Fund Management Co. Ltd Acquires Shares of 71,099 SoFi Technologies, Inc. (NASDAQ:SOFI)

Harvest Fund Management Co. Ltd bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 71,099 shares of the company's stock, valued at approximately $1,095,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Xponance Inc. raised its holdings in shares of SoFi Technologies by 19.3% in the 4th quarter. Xponance Inc. now owns 64,541 shares of the company's stock valued at $994,000 after purchasing an additional 10,444 shares in the last quarter. Harbour Investments Inc. raised its holdings in shares of SoFi Technologies by 9.7% in the 4th quarter. Harbour Investments Inc. now owns 68,117 shares of the company's stock valued at $1,049,000 after purchasing an additional 6,018 shares in the last quarter. one8zero8 LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $340,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $282,000. Finally, Midwest Professional Planners LTD. acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $836,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SOFI. 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, December 2nd. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Citigroup raised their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.50.

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Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm's 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 sale, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 106,819 shares of company stock valued at $1,447,044 over the last 90 days. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Trading Up 1.8 %

Shares of SOFI traded up $0.23 on Friday, hitting $12.87. 39,978,435 shares of the stock traded hands, compared to its average volume of 44,515,324. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $14.11 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.24 and a beta of 1.79. The stock's 50 day moving average is $14.67 and its two-hundred day moving average is $13.01. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 last year, the business earned $0.04 earnings per share. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share 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.