Legal & General Group Plc Sells 111,886 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Legal & General Group Plc decreased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,030,270 shares of the company's stock after selling 111,886 shares during the quarter. Legal & General Group Plc owned about 0.09% of SoFi Technologies worth $15,866,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. boosted 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 valued at $1,514,390,000 after purchasing an additional 8,898,879 shares in the last quarter. Norges Bank purchased a new stake in SoFi Technologies in the 4th quarter worth approximately $103,678,000. Amundi grew its stake in SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock valued at $39,360,000 after purchasing an additional 2,700,543 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in SoFi Technologies by 123.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,740,628 shares of the company's stock valued at $40,671,000 after acquiring an additional 1,512,326 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in SoFi Technologies in the fourth quarter worth $14,479,000. Institutional investors own 38.43% of the company's stock.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was 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 in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the business'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 transaction, the executive vice president now 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. Insiders have sold a total of 97,905 shares of company stock worth $1,308,075 over the last quarter. Company insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded up $0.32 during trading on Thursday, hitting $10.98. 44,607,138 shares of the company were exchanged, compared to its average volume of 46,082,390. 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, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a market capitalization of $12.04 billion, a P/E ratio of 29.67, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The business's 50 day moving average is $12.76 and its 200-day moving average is $13.44.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released 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 net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the company earned $0.04 earnings per share. Equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Morgan Stanley increased their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. UBS Group lifted their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Finally, The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $12.50.

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.