State Street Corp Boosts Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

State Street Corp raised its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,062,855 shares of the company's stock after acquiring an additional 310,532 shares during the quarter. State Street Corp owned approximately 1.69% of SoFi Technologies worth $141,974,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Citizens Financial Group Inc. RI grew its stake in shares of SoFi Technologies by 41.5% in the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after acquiring an additional 70,603 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock worth $30,971,000 after acquiring an additional 2,688,847 shares during the period. Qsemble Capital Management LP acquired a new stake in shares of SoFi Technologies in the third quarter valued at $930,000. Finally, Mount Lucas Management LP purchased a new position in SoFi Technologies in the third quarter valued at $920,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 5.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,012,748 shares of company stock valued at $416,356,356 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Performance

Shares of SOFI traded up $0.35 during midday trading on Friday, reaching $16.25. 41,622,262 shares of the stock were exchanged, compared to its average volume of 47,581,461. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $16.61. 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 company has a market capitalization of $17.63 billion, a price-to-earnings ratio of 162.50, a PEG ratio of 2.65 and a beta of 1.77. The business's 50-day moving average price is $12.83 and its 200 day moving average price is $9.12.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm's revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on SOFI shares. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Barclays boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. Finally, Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Three 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $10.50.

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.