Price T Rowe Associates Inc. MD Buys 41,248 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Price T Rowe Associates Inc. MD lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 2.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,518,141 shares of the company's stock after purchasing an additional 41,248 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.14% of SoFi Technologies worth $23,380,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SoFi Technologies during the 4th quarter valued at $27,000. Hollencrest Capital Management bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $31,000. FNY Investment Advisers LLC grew 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 in the last quarter. IAG Wealth Partners LLC bought a new position in shares of SoFi Technologies in the fourth quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC raised its stake in SoFi Technologies by 116.3% in the fourth quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock valued at $48,000 after purchasing an additional 1,744 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays increased their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. UBS Group upped their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Finally, Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research note on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.38.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $12.51 on Friday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The stock has a market capitalization of $13.72 billion, a PE ratio of 33.81, a PEG ratio of 2.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business's 50-day moving average is $12.01 and its 200 day moving average is $13.71.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. During the same period in the previous year, the firm earned $0.02 earnings per share. The business's revenue was up 32.7% compared to the same quarter last year. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 11,181 shares of the 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 completion of the transaction, the executive vice president now owns 215,029 shares of the company's stock, valued at approximately $2,302,960.59. This represents a 4.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 100,172 shares of company stock worth $1,271,115. 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.

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