International Assets Investment Management LLC Acquires 319,148 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

International Assets Investment Management LLC boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1,159.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 346,673 shares of the company's stock after purchasing an additional 319,148 shares during the period. International Assets Investment Management LLC's holdings in SoFi Technologies were worth $2,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SOFI. Vanguard Group Inc. grew its position in SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company's stock worth $604,632,000 after acquiring an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock worth $86,478,000 after buying an additional 9,482,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of SoFi Technologies by 6.4% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company's stock worth $75,737,000 after buying an additional 690,638 shares during the period. Nikko Asset Management Americas Inc. boosted its holdings in shares of SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company's stock worth $78,494,000 after buying an additional 6,870,610 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock worth $42,026,000 after buying an additional 3,593,464 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Trading Down 1.2 %

NASDAQ SOFI traded down $0.13 during trading on Friday, reaching $11.04. 41,742,291 shares of the stock traded hands, compared to its average volume of 61,957,560. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 110.40, a price-to-earnings-growth ratio of 1.88 and a beta of 1.60. The stock's 50-day moving average price is $8.67 and its 200 day moving average price is $7.56. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $11.50.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to analysts' expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The business's quarterly revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) earnings per share. Analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares in the company, valued at approximately $830,594.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the company's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on SOFI shares. Jefferies Financial Group upped their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Citigroup cut shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods cut their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a "market perform" rating for the company in a research note on Tuesday, July 9th. Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Barclays upped their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $9.32.

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.