Swiss National Bank Cuts Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Swiss National Bank cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 9.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,778,800 shares of the company's stock after selling 190,300 shares during the quarter. Swiss National Bank owned approximately 0.19% of SoFi Technologies worth $17,699,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its position in SoFi Technologies by 241.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company's stock worth $38,772,000 after acquiring an additional 2,755,197 shares during the last quarter. Vanguard Group Inc. increased its position in SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company's stock worth $610,458,000 after buying an additional 2,567,797 shares during the period. FMR LLC lifted its holdings in shares of SoFi Technologies by 14,136.9% during the third quarter. FMR LLC now owns 2,317,905 shares of the company's stock worth $18,520,000 after buying an additional 2,301,624 shares in the last quarter. ARK Investment Management LLC boosted its position in shares of SoFi Technologies by 143.1% in the fourth quarter. ARK Investment Management LLC now owns 1,970,742 shares of the company's stock valued at $19,609,000 after acquiring an additional 1,160,125 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of SoFi Technologies in the third quarter valued at about $6,133,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Down 1.7 %

SOFI traded down $0.12 during trading on Friday, hitting $6.94. The company's stock had a trading volume of 28,959,219 shares, compared to its average volume of 53,138,676. The firm has a market capitalization of $6.78 billion, a P/E ratio of -22.45 and a beta of 1.75. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The stock's fifty day moving average price is $7.36 and its 200-day moving average price is $7.83.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. The business had revenue of $580.60 million during the quarter, compared to analysts' expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.13%. The business's quarterly revenue was up 26.2% on a year-over-year basis. During the same period last year, the company posted ($0.05) earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CTO Jeremy Rishel sold 56,273 shares of the company's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the sale, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Anthony Noto purchased 28,775 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares of the company's stock, valued at $55,430,246.10. The disclosure for this purchase can be found here. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

SOFI has been the subject of several analyst reports. Wedbush reiterated an "underperform" rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Jefferies Financial Group reduced their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating on the stock in a research report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, April 30th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 30th. Finally, Mizuho dropped their price objective on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $9.08.

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.