SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Position Lifted by Invesco Ltd.

Invesco Ltd. boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 84.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,408,801 shares of the company's stock after purchasing an additional 645,994 shares during the period. Invesco Ltd. owned approximately 0.13% of SoFi Technologies worth $21,696,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in shares of SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after purchasing an additional 8,898,879 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Norges Bank purchased a new position in SoFi Technologies during the fourth quarter worth approximately $103,678,000. Charles Schwab Investment Management Inc. boosted its stake in SoFi Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after buying an additional 167,780 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in SoFi Technologies by 0.3% in the 4th quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company's stock valued at $49,640,000 after buying an additional 8,218 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC raised their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $12.50.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,625 shares of the business'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 transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $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 SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock valued at $1,308,075 in the last three months. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Trading Up 3.0 %

Shares of SOFI traded up $0.32 on Friday, hitting $10.98. 46,704,309 shares of the stock traded hands, compared to its average volume of 46,233,868. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The stock's 50 day moving average is $12.60 and its two-hundred day moving average is $13.52. The firm has a market capitalization of $12.04 billion, a P/E ratio of 29.67, a P/E/G ratio of 2.24 and a beta of 1.86. 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 released its 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 period in the prior 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.

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.