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GF Fund Management CO. LTD. Buys Shares of 41,704 SoFi Technologies, Inc. (NASDAQ:SOFI)

SoFi Technologies logo with Finance background

GF Fund Management CO. LTD. bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 41,704 shares of the company's stock, valued at approximately $485,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Hollencrest Capital Management acquired a new stake in SoFi Technologies during the 4th quarter worth about $31,000. Garde Capital Inc. acquired a new stake in SoFi Technologies during the 1st quarter worth about $31,000. Mpwm Advisory Solutions LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at about $32,000. Finally, IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies in the fourth quarter worth about $38,000. 38.43% of the stock is currently owned by institutional investors.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 11,520 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total value of $154,137.60. Following the transaction, the executive vice president owned 203,509 shares in the company, valued at $2,722,950.42. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,095 shares of company stock valued at $3,939,168 in the last ninety days. Insiders own 2.60% of the company's stock.

SoFi Technologies Stock Up 3.6%

NASDAQ SOFI traded up $0.67 during trading hours on Monday, hitting $19.24. 79,735,446 shares of the company were exchanged, compared to its average volume of 52,483,485. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46. The firm has a market cap of $21.27 billion, a price-to-earnings ratio of 109.24, a PEG ratio of 3.15 and a beta of 1.91. The company has a 50 day moving average of $14.40 and a two-hundred day moving average of $14.02. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $19.38.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The firm's quarterly revenue was up 32.7% on a year-over-year basis. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently issued reports on SOFI shares. Stephens started coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price for the company. JMP Securities began coverage on SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price for the company. Barclays lifted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Truist Financial began coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective for the company. Finally, Needham & Company LLC reissued a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned 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 $14.73.

View Our Latest Analysis on SoFi Technologies

SoFi Technologies Profile

(Free Report)

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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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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