Voloridge Investment Management LLC Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Voloridge Investment Management LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,879,142 shares of the company's stock, valued at approximately $75,139,000. Voloridge Investment Management LLC owned approximately 0.45% of SoFi Technologies at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Two Sigma Advisers LP bought a new position in SoFi Technologies in the fourth quarter valued at approximately $299,980,000. Tidal Investments LLC boosted its stake in SoFi Technologies by 302.2% in the fourth quarter. Tidal Investments LLC now owns 185,677 shares of the company's stock valued at $2,859,000 after acquiring an additional 139,510 shares during the last quarter. Man Group plc bought a new position in SoFi Technologies in the fourth quarter valued at approximately $6,906,000. Maven Securities LTD bought a new position in SoFi Technologies in the fourth quarter valued at approximately $254,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in SoFi Technologies by 3.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 840,102 shares of the company's stock valued at $12,939,000 after acquiring an additional 24,247 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. JMP Securities started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target on the stock. Barclays lifted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 price target on the stock. Finally, William Blair reissued 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 assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $14.38.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,185 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,172 shares of company stock worth $1,271,115. Insiders own 2.60% of the company's stock.

SoFi Technologies Trading Down 1.4%

SOFI opened at $13.73 on Tuesday. 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, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The firm's fifty day simple moving average is $12.11 and its 200 day simple moving average is $13.99. The stock has a market capitalization of $15.18 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.24 and a beta of 1.84.

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, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The firm had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same period in the previous year, the business earned $0.02 EPS. The company's revenue was up 32.7% compared to the same quarter last year. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal 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.

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