Rhumbline Advisers Purchases 42,215 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Rhumbline Advisers lifted its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 4.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,817 shares of the company's stock after acquiring an additional 42,215 shares during the period. Rhumbline Advisers owned approximately 0.10% of SoFi Technologies worth $12,512,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SOFI. Burr Financial Services LLC lifted its position in SoFi Technologies by 10.6% in the 1st quarter. Burr Financial Services LLC now owns 15,580 shares of the company's stock valued at $181,000 after acquiring an additional 1,490 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of SoFi Technologies by 19.4% in the 1st quarter. Parallel Advisors LLC now owns 8,754 shares of the company's stock valued at $102,000 after purchasing an additional 1,420 shares during the period. GAMMA Investing LLC lifted its holdings in shares of SoFi Technologies by 1,525.8% in the first quarter. GAMMA Investing LLC now owns 96,331 shares of the company's stock valued at $1,120,000 after purchasing an additional 90,406 shares in the last quarter. 111 Capital acquired a new position in shares of SoFi Technologies during the fourth quarter worth about $438,000. Finally, Keystone Financial Services LLC bought a new position in shares of SoFi Technologies during the fourth quarter worth about $275,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

NASDAQ SOFI traded up $0.29 on Tuesday, hitting $14.39. 57,321,058 shares of the company's stock were exchanged, compared to its average volume of 49,335,132. The stock has a 50-day moving average of $12.41 and a 200-day moving average of $13.99. The stock has a market cap of $15.91 billion, a price-to-earnings ratio of 38.89, a P/E/G ratio of 2.24 and a beta of 1.82. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week 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 issued its earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 earnings per share. Analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the completion of the sale, the executive vice president now directly owns 203,509 shares of the company's stock, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,507 shares of company stock valued at $1,283,528. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SOFI shares. Needham & Company LLC restated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Citizens Jmp began 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. UBS Group raised their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. 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. Finally, Truist Financial began coverage on SoFi Technologies in a report on Monday, June 2nd. They issued 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 given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $14.36.

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.