Reynders McVeigh Capital Management LLC Boosts Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Reynders McVeigh Capital Management LLC boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 501.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,808 shares of the company's stock after purchasing an additional 123,234 shares during the period. Reynders McVeigh Capital Management LLC's holdings in SoFi Technologies were worth $1,471,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Calton & Associates Inc. lifted its stake in SoFi Technologies by 17.6% during the fourth quarter. Calton & Associates Inc. now owns 23,520 shares of the company's stock worth $234,000 after purchasing an additional 3,520 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of SoFi Technologies by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company's stock valued at $54,659,000 after acquiring an additional 199,949 shares during the last quarter. Lincoln National Corp lifted its stake in shares of SoFi Technologies by 7.1% in the 4th quarter. Lincoln National Corp now owns 44,655 shares of the company's stock valued at $444,000 after acquiring an additional 2,947 shares during the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of SoFi Technologies by 31.0% in the 4th quarter. Wealthcare Advisory Partners LLC now owns 17,383 shares of the company's stock valued at $173,000 after acquiring an additional 4,112 shares during the last quarter. Finally, Summit Trail Advisors LLC lifted its stake in shares of SoFi Technologies by 7.1% in the 4th quarter. Summit Trail Advisors LLC now owns 243,069 shares of the company's stock valued at $2,419,000 after acquiring an additional 16,124 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Down 1.7 %

SoFi Technologies stock traded down $0.12 during trading hours on Friday, reaching $6.94. 29,080,764 shares of the company's stock were exchanged, compared to its average volume of 49,244,912. The company has a quick ratio of 0.23, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The firm's 50 day simple moving average is $7.32 and its 200 day simple moving average is $7.83. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The firm has a market capitalization of $6.78 billion, a PE ratio of -22.39 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. During the same period last year, the business posted ($0.05) EPS. The business's revenue was up 26.2% compared to the same quarter last year. Research analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

SOFI has been the subject of a number of research reports. Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a "buy" rating and a $11.00 price target for the company. The Goldman Sachs Group increased 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. Morgan Stanley reaffirmed an "underweight" rating and set a $6.50 target price (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft lowered their target price on SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a research report on Tuesday, April 30th. Finally, Jefferies Financial Group lowered their target price on SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research report on Tuesday, March 26th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $9.08.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was 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 directly owns 390,616 shares of the company's stock, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CTO Jeremy Rishel sold 56,273 shares of the business's stock in a transaction dated Tuesday, March 19th. The stock was 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 directly owns 390,616 shares of the company's stock, valued at approximately $2,706,968.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony Noto bought 28,775 shares of the firm's stock in a transaction that occurred on Friday, May 3rd. The stock was purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The disclosure for this purchase can be found here. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies 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.