Marshall Wace LLP Reduces Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Marshall Wace LLP reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 98.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 105,947 shares of the company's stock after selling 8,287,366 shares during the quarter. Marshall Wace LLP's holdings in SoFi Technologies were worth $1,632,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Berkshire Capital Holdings Inc. raised its holdings in shares of SoFi Technologies by 6,208,000.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock valued at $9,560,000 after buying an additional 620,800 shares during the period. SBI Securities Co. Ltd. purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $3,703,000. Hanseatic Management Services Inc. purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $1,116,000. Kercheville Advisors LLC purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. increased its holdings in SoFi Technologies by 12.9% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company's stock worth $9,131,000 after purchasing an additional 67,779 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on SOFI. Keefe, Bruyette & Woods restated an "underperform" rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. William Blair restated an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. UBS Group lifted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Citizens Jmp began coverage on SoFi Technologies in a report on Friday. They set an "outperform" rating and a $17.00 price objective on the stock. Finally, Needham & Company LLC lifted 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 research analysts have rated the stock with a sell rating, six have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $13.10.

SoFi Technologies Trading Up 2.5 %

NASDAQ:SOFI opened at $13.20 on Tuesday. The firm has a market capitalization of $14.47 billion, a P/E ratio of 35.68, a P/E/G 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. The business has a 50 day simple moving average of $12.14 and a 200 day simple moving average of $13.71. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 27th. The company reported $0.05 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 previous year, the business posted $0.04 EPS. Equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred 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 owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,172 shares of company stock valued at $1,271,115. 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.

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