Geode Capital Management LLC Grows Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Geode Capital Management LLC boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 17,619,084 shares of the company's stock after purchasing an additional 358,806 shares during the quarter. Geode Capital Management LLC owned approximately 1.65% of SoFi Technologies worth $138,523,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SOFI. Blue Trust Inc. increased its holdings in SoFi Technologies by 783.5% during the 2nd quarter. Blue Trust Inc. now owns 8,102 shares of the company's stock worth $59,000 after purchasing an additional 7,185 shares during the period. Brookstone Capital Management acquired a new position in shares of SoFi Technologies during the 2nd quarter worth about $401,000. Raymond James & Associates boosted its position in shares of SoFi Technologies by 28.6% during the 2nd quarter. Raymond James & Associates now owns 520,301 shares of the company's stock worth $3,439,000 after acquiring an additional 115,639 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of SoFi Technologies during the 2nd quarter worth about $185,000. Finally, Atria Wealth Solutions Inc. boosted its position in shares of SoFi Technologies by 8.3% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 467,009 shares of the company's stock worth $3,087,000 after acquiring an additional 35,738 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Barclays upped their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Bank of America reaffirmed an "underperform" rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $10.50.

Insiders Place Their Bets

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares of the company's stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,012,748 shares of company stock valued at $416,356,356. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Performance

SoFi Technologies stock traded down $0.22 during mid-day trading on Tuesday, reaching $16.66. 53,777,488 shares of the company were exchanged, compared to its average volume of 47,639,918. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $17.17. The firm's 50-day simple moving average is $13.16 and its two-hundred day simple moving average is $9.29. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market cap of $18.08 billion, a PE ratio of 166.60, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million during the quarter, compared to analysts' expectations of $631.59 million. During the same period last year, the firm earned ($0.03) EPS. The firm's revenue for the quarter was up 29.8% on a year-over-year basis. Equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal 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.