Geode Capital Management LLC Acquires 315,899 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Geode Capital Management LLC increased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,934,983 shares of the company's stock after purchasing an additional 315,899 shares during the period. Geode Capital Management LLC owned approximately 1.65% of SoFi Technologies worth $276,288,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SOFI. Vanguard Group Inc. increased 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 during the last quarter. State Street Corp boosted its stake in SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after buying an additional 310,532 shares in the last quarter. Norges Bank bought a new position in SoFi Technologies during the fourth quarter valued at approximately $103,678,000. Charles Schwab Investment Management Inc. raised its stake in shares of 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 acquiring an additional 167,780 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of 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 worth $49,640,000 after acquiring an additional 8,218 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

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Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,185 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $1,308,075 over the last ninety days. Company insiders own 2.60% of the company's stock.

SoFi Technologies Trading Down 1.1 %

Shares of SOFI traded down $0.11 during trading hours on Tuesday, reaching $9.75. 44,157,288 shares of the company traded hands, compared to its average volume of 45,702,536. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company's fifty day moving average price is $13.66 and its two-hundred day moving average price is $13.38. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 26.34, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. 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 earnings per share for the current fiscal year.

Analyst Ratings Changes

SOFI has been the topic of several recent research reports. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Morgan Stanley raised their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. UBS Group increased their target price 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 lifted their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average 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.