Voloridge Investment Management LLC Acquires New Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Voloridge Investment Management LLC purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and 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 about 0.45% of SoFi Technologies as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Two Sigma Advisers LP bought a new stake in SoFi Technologies in the 4th quarter worth $299,980,000. Tidal Investments LLC boosted its stake in shares of SoFi Technologies by 302.2% during the 4th quarter. Tidal Investments LLC now owns 185,677 shares of the company's stock valued at $2,859,000 after purchasing an additional 139,510 shares in the last quarter. Man Group plc bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $6,906,000. Maven Securities LTD bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $254,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of SoFi Technologies by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 840,102 shares of the company's stock valued at $12,939,000 after purchasing an additional 24,247 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SOFI. JMP Securities began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 target price on the stock. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Barclays lifted 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 note on Wednesday, April 30th. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. Finally, UBS Group lifted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus price target of $14.38.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the transaction, the executive vice president now owns 215,029 shares in the company, valued at approximately $2,302,960.59. This trade represents a 4.94% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,507 shares of company stock valued at $1,283,528. Insiders own 2.60% of the company's stock.

SoFi Technologies Stock Down 0.8%

SoFi Technologies stock traded down $0.10 during trading hours on Friday, hitting $13.09. The stock had a trading volume of 44,036,245 shares, compared to its average volume of 47,989,907. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.47 billion, a P/E ratio of 35.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The stock's 50-day moving average price is $12.20 and its 200-day moving average price is $14.01.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The business had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share. Equities 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.