AQR Capital Management LLC Increases Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

AQR Capital Management LLC lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 635,594 shares of the company's stock after acquiring an additional 141,153 shares during the quarter. AQR Capital Management LLC owned approximately 0.06% of SoFi Technologies worth $9,788,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares in the last quarter. Norges Bank bought a new stake in SoFi Technologies during the 4th quarter valued at $103,678,000. Amundi increased its position in shares of SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock worth $39,360,000 after acquiring an additional 2,700,543 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of SoFi Technologies by 583.6% in the 4th quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock worth $41,375,000 after acquiring an additional 2,293,622 shares during the last quarter. Finally, Aquatic Capital Management LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter worth about $26,755,000. 38.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on SOFI shares. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. UBS Group upped their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Finally, JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and a consensus target price of $14.38.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. 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 the business's stock in a transaction 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 owns 169,626 shares in the company, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,172 shares of company stock worth $1,271,115. Company insiders own 2.60% of the company's stock.

SoFi Technologies Stock Down 0.6 %

SOFI traded down $0.08 during midday trading on Friday, reaching $13.18. The company's stock had a trading volume of 51,224,181 shares, compared to its average volume of 46,909,050. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The stock's 50-day moving average is $11.89 and its 200-day moving average is $13.81. The firm has a market capitalization of $14.45 billion, a price-to-earnings ratio of 35.62, a PEG ratio of 2.24 and a beta of 1.84. 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 (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business's revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.02 earnings per share. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.