Citizens Financial Group Inc. RI Has $1.89 Million Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Citizens Financial Group Inc. RI raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 41.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 240,735 shares of the company's stock after acquiring an additional 70,603 shares during the period. Citizens Financial Group Inc. RI's holdings in SoFi Technologies were worth $1,892,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies in the 3rd quarter worth $27,000. Allspring Global Investments Holdings LLC raised its stake in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after buying an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter worth $39,000. GAMMA Investing LLC raised its stake in shares of SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after buying an additional 1,981 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in shares of SoFi Technologies during the third quarter worth $47,000. Institutional investors own 38.43% of the company's stock.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,081 shares of the business's stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares of the company's stock, valued at $1,576,823.08. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 86,697 shares of company stock valued at $723,620 over the last quarter. Insiders own 2.60% of the company's stock.

SoFi Technologies Stock Up 3.9 %

NASDAQ SOFI traded up $0.59 on Friday, reaching $15.60. The stock had a trading volume of 49,848,569 shares, compared to its average volume of 47,611,566. The business has a 50 day moving average price of $10.28 and a 200 day moving average price of $8.15. The company has a current ratio of 0.49, a quick ratio of 0.18 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 $15.75. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 153.22, a P/E/G ratio of 2.40 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating 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 firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the previous year, the company posted ($0.03) earnings per share. The business's quarterly revenue was up 29.8% compared to the same quarter last year. On average, analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on SOFI shares. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Needham & Company LLC boosted their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Barclays boosted their target price 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. Finally, Mizuho lifted their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $9.80.

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.