First Trust Advisors LP Raises Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

First Trust Advisors LP boosted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 583.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,686,667 shares of the company's stock after purchasing an additional 2,293,622 shares during the period. First Trust Advisors LP owned approximately 0.25% of SoFi Technologies worth $41,375,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $27,000. Hollencrest Capital Management acquired a new position in shares of SoFi Technologies in the fourth quarter valued at about $31,000. FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after purchasing an additional 1,905 shares during the period. IAG Wealth Partners LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC increased its holdings in SoFi Technologies by 116.3% in the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock worth $48,000 after buying an additional 1,744 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In related 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 completion of the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction that occurred on Monday, April 21st. The stock was sold at an average price of $10.71, for a total value 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. The trade was a 4.94 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,172 shares of company stock valued at $1,271,115. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SOFI. Citizens Jmp began coverage on shares of SoFi Technologies in a research note on Friday. They issued an "outperform" rating and a $17.00 price objective on the stock. Citigroup lifted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Needham & Company LLC upped their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. JMP Securities assumed coverage on SoFi Technologies in a report on Friday. They issued a "market outperform" rating and a $17.00 price target for the company. Finally, UBS Group raised their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of "Hold" and an average price target of $13.10.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.04 during midday trading on Monday, hitting $12.92. The stock had a trading volume of 31,446,643 shares, compared to its average volume of 46,388,546. 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 50 day simple moving average of $12.20 and a 200-day simple moving average of $13.68. The company has a market capitalization of $14.17 billion, a PE ratio of 34.70, a P/E/G ratio of 2.24 and a beta of 1.86. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the firm posted $0.04 EPS. On average, sell-side analysts expect 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.