Vontobel Holding Ltd. Buys 45,594 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Vontobel Holding Ltd. boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 44.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 147,955 shares of the company's stock after purchasing an additional 45,594 shares during the period. Vontobel Holding Ltd.'s holdings in SoFi Technologies were worth $1,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SOFI. Brighton Jones LLC raised its position in SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after acquiring an additional 14,281 shares during the period. Proficio Capital Partners LLC bought a new position in SoFi Technologies in the fourth quarter worth approximately $513,000. Charles Schwab Investment Management Inc. raised its position in SoFi Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after acquiring an additional 167,780 shares during the period. Victory Capital Management Inc. raised its position in SoFi Technologies by 104.4% in the fourth quarter. Victory Capital Management Inc. now owns 262,979 shares of the company's stock worth $4,050,000 after acquiring an additional 134,318 shares during the period. Finally, M&T Bank Corp raised its position in SoFi Technologies by 16.1% in the fourth quarter. M&T Bank Corp now owns 52,912 shares of the company's stock worth $815,000 after acquiring an additional 7,330 shares during the period. Institutional investors own 38.43% of the company's stock.

Insiders Place Their Bets

In other SoFi Technologies news, 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 value of $154,137.60. Following the completion of the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at $2,722,950.42. This trade represents a 5.36% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 274,095 shares of company stock valued at $3,939,168 in the last three months. Corporate insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on SOFI shares. Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target on the stock. Stephens assumed coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target on the stock. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Barclays raised their price objective 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, Truist Financial started 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 on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $14.73.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $18.54 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The company has a market cap of $20.49 billion, a P/E ratio of 45.21, a P/E/G ratio of 3.15 and a beta of 1.91. The firm's fifty day moving average is $14.40 and its two-hundred day moving average is $14.03. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.92.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. SoFi Technologies'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 firm posted $0.02 EPS. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

About SoFi Technologies

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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