Brevan Howard Capital Management LP Has $4.61 Million Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Brevan Howard Capital Management LP lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 52.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 299,605 shares of the company's stock after selling 324,320 shares during the quarter. Brevan Howard Capital Management LP's holdings in SoFi Technologies were worth $4,614,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also added to or reduced their stakes in SOFI. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% during the fourth 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 during the last quarter. Geode Capital Management LLC raised its position in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock worth $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Norges Bank acquired a new position in SoFi Technologies during the 4th quarter worth about $103,678,000. Charles Schwab Investment Management Inc. increased its stake in shares of SoFi Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock valued at $97,230,000 after buying an additional 167,780 shares during the period. Finally, Northern Trust Corp raised its position in shares of SoFi Technologies by 22.7% during the fourth quarter. Northern Trust Corp now owns 6,052,301 shares of the company's stock worth $93,205,000 after acquiring an additional 1,121,550 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on SOFI shares. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Citigroup upped their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. UBS Group upped their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Finally, Citizens Jmp began coverage on SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $14.38.

SoFi Technologies Stock Performance

SOFI opened at $12.86 on Tuesday. The company has a market cap of $14.10 billion, a price-to-earnings ratio of 34.76, a PEG ratio of 2.24 and a beta of 1.84. The company's fifty day moving average price is $11.95 and its two-hundred day moving average price is $13.80. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. 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 announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The firm's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.02 EPS. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, 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 transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $10.71, for a total transaction of $119,748.51. Following the completion of the sale, the executive vice president now directly owns 215,029 shares of the company's stock, valued at $2,302,960.59. The trade was a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock valued at $1,271,115 over the last 90 days. Insiders own 2.60% of the company's stock.

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.

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