Hel Ved Capital Management Ltd Acquires Shares of 217,400 SoFi Technologies, Inc. (NASDAQ:SOFI)

Hel Ved Capital Management Ltd acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 217,400 shares of the company's stock, valued at approximately $3,348,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Thoroughbred Financial Services LLC bought a new position in SoFi Technologies during the fourth quarter worth about $228,000. Creekmur Asset Management LLC raised its position in shares of SoFi Technologies by 7,151.3% in the 4th quarter. Creekmur Asset Management LLC now owns 28,715 shares of the company's stock valued at $442,000 after acquiring an additional 28,319 shares during the period. Trexquant Investment LP boosted its stake in SoFi Technologies by 282.0% during the 4th quarter. Trexquant Investment LP now owns 617,831 shares of the company's stock worth $9,515,000 after acquiring an additional 456,096 shares during the last quarter. Geode Capital Management LLC raised its holdings in SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares during the period. Finally, HighPoint Advisor Group LLC lifted its holdings in shares of SoFi Technologies by 6.0% during the 4th quarter. HighPoint Advisor Group LLC now owns 74,961 shares of the company's stock valued at $1,112,000 after purchasing an additional 4,268 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

Several brokerages have commented on SOFI. Keefe, Bruyette & Woods restated an "underperform" rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. UBS Group raised their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Bank of America reiterated an "underperform" rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Stock Performance

SOFI stock traded down $0.40 during trading hours on Tuesday, reaching $9.46. The stock had a trading volume of 52,648,476 shares, compared to its average volume of 45,743,695. The stock has a 50-day simple moving average of $13.66 and a 200 day simple moving average of $13.38. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The stock has a market capitalization of $10.38 billion, a PE ratio of 25.55, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its 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 net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the company posted $0.04 earnings per share. Analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the sale, the executive vice president now owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,905 shares of company stock worth $1,308,075. 2.60% of the stock is owned by company insiders.

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.