SPX Gestao de Recursos Ltda Buys Shares of 100,000 SoFi Technologies, Inc. (NASDAQ:SOFI)

SPX Gestao de Recursos Ltda purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 100,000 shares of the company's stock, valued at approximately $1,540,000.

A number of other large investors have also added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at $28,000. FNY Investment Advisers LLC boosted its holdings in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. SouthState Corp acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at $67,000. Finally, Huntington National Bank boosted its holdings in shares of SoFi Technologies by 442.0% during the 3rd quarter. Huntington National Bank now owns 8,856 shares of the company's stock valued at $70,000 after acquiring an additional 7,222 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Stock Up 6.4 %

Shares of SOFI traded up $0.73 during trading hours on Wednesday, hitting $11.99. The stock had a trading volume of 38,930,469 shares, compared to its average volume of 46,836,883. 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 firm has a 50 day simple moving average of $15.07 and a 200-day simple moving average of $12.80. The firm has a market capitalization of $13.14 billion, a P/E ratio of 32.31, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the firm posted $0.04 earnings per share. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SOFI has been the topic of several recent research reports. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a report on Tuesday, November 19th. The Goldman Sachs Group raised their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Morgan Stanley raised their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research report on Thursday, December 19th. Finally, Bank of America reaffirmed an "underperform" rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $12.50.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company's stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 sale, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 144,004 shares of company stock worth $2,292,100. Insiders own 2.60% of the company's stock.

SoFi Technologies Company 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.