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

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.

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.