Tidal Investments LLC Has $2.86 Million Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Tidal Investments LLC grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 302.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 185,677 shares of the company's stock after buying an additional 139,510 shares during the quarter. Tidal Investments LLC's holdings in SoFi Technologies were worth $2,859,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Merit Financial Group LLC raised its stake in shares of SoFi Technologies by 65.9% in the fourth quarter. Merit Financial Group LLC now owns 31,172 shares of the company's stock worth $480,000 after acquiring an additional 12,383 shares during the last quarter. UMB Bank n.a. increased its stake in shares of SoFi Technologies by 30.1% in the 4th quarter. UMB Bank n.a. now owns 40,644 shares of the company's stock valued at $626,000 after buying an additional 9,407 shares during the period. Evolution Wealth Advisors LLC bought a new stake in shares of SoFi Technologies during the fourth quarter worth $235,000. Burr Financial Services LLC bought a new position in SoFi Technologies in the fourth quarter valued at about $217,000. Finally, Key Client Fiduciary Advisors LLC acquired a new stake in SoFi Technologies in the fourth quarter worth about $195,000. 38.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SOFI shares. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. UBS Group increased their price objective 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. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Barclays upped their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. Finally, William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Three 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 assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $14.38.

Insiders Place Their Bets

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

SoFi Technologies Stock Down 0.8%

Shares of SoFi Technologies stock traded down $0.10 on Friday, hitting $13.09. The company had a trading volume of 44,036,245 shares, compared to its average volume of 47,989,902. The stock has a 50-day moving average of $12.18 and a 200-day moving average of $14.00. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The firm has a market capitalization of $14.47 billion, a P/E ratio of 35.38, a P/E/G ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its 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. The firm had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The company's revenue was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. Research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

SoFi Technologies Company 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.