GF Fund Management CO. LTD. Takes $485,000 Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

GF Fund Management CO. LTD. purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 41,704 shares of the company's stock, valued at approximately $485,000.

Other hedge funds have also recently bought and sold shares of the company. OneDigital Investment Advisors LLC raised its holdings in shares of SoFi Technologies by 21.4% in the 1st quarter. OneDigital Investment Advisors LLC now owns 29,971 shares of the company's stock valued at $349,000 after purchasing an additional 5,292 shares during the period. Hartline Investment Corp increased its position in SoFi Technologies by 25.1% during the first quarter. Hartline Investment Corp now owns 12,893 shares of the company's stock worth $150,000 after buying an additional 2,586 shares during the last quarter. Palisade Capital Management LP bought a new stake in SoFi Technologies in the first quarter valued at approximately $128,000. D.A. Davidson & CO. lifted its position in shares of SoFi Technologies by 11.3% in the first quarter. D.A. Davidson & CO. now owns 121,330 shares of the company's stock valued at $1,411,000 after buying an additional 12,322 shares during the last quarter. Finally, Xcel Wealth Management LLC boosted its stake in shares of SoFi Technologies by 2.3% during the 1st quarter. Xcel Wealth Management LLC now owns 73,400 shares of the company's stock worth $854,000 after acquiring an additional 1,680 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SOFI. Needham & Company LLC restated a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective on the stock. Stephens began coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price for the company. UBS Group increased their price target on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Finally, Truist Financial started coverage on SoFi Technologies in a report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $14.73.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total value 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director owned 289,258 shares of the company's stock, valued at $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock valued at $3,939,168 in the last three months. Insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

SOFI stock traded up $0.47 during mid-day trading on Monday, hitting $19.04. The stock had a trading volume of 28,139,130 shares, compared to its average volume of 52,289,070. The firm has a fifty day simple moving average of $14.40 and a 200 day simple moving average of $14.02. The firm has a market capitalization of $21.05 billion, a P/E ratio of 46.60, a P/E/G ratio of 3.15 and a beta of 1.91. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $19.27.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $739.93 million. During the same period last year, the company posted $0.02 EPS. The firm's quarterly revenue was up 32.7% compared to the same quarter last year. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

SoFi Technologies 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.