QRG Capital Management Inc. Increases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

QRG Capital Management Inc. lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 9.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 280,791 shares of the company's stock after buying an additional 24,713 shares during the quarter. QRG Capital Management Inc.'s holdings in SoFi Technologies were worth $4,324,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Proficio Capital Partners LLC acquired a new position in SoFi Technologies during the 4th quarter worth approximately $513,000. Oppenheimer & Co. Inc. lifted its position in shares of SoFi Technologies by 47.9% during the 4th quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company's stock worth $5,628,000 after purchasing an additional 118,288 shares during the last quarter. Nwam LLC grew its stake in shares of SoFi Technologies by 11.3% during the fourth quarter. Nwam LLC now owns 44,635 shares of the company's stock worth $687,000 after purchasing an additional 4,531 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in SoFi Technologies by 0.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company's stock valued at $49,640,000 after buying an additional 8,218 shares during the last quarter. Finally, Prasad Wealth Partners LLC acquired a new stake in SoFi Technologies in the fourth quarter valued at $182,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SOFI. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a "neutral" rating in a research report on Monday, December 2nd. UBS Group increased their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Morgan Stanley upped their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies Stock Performance

SOFI traded down $0.32 on Tuesday, hitting $13.25. 67,518,308 shares of the company traded hands, compared to its average volume of 45,899,820. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a 50 day moving average of $15.50 and a 200-day moving average of $12.59. 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 market capitalization of $14.52 billion, a PE ratio of 35.80, a PEG ratio of 2.24 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the company earned $0.04 EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Eric Schuppenhauer bought 30,600 shares of the firm's stock in a transaction on Monday, December 16th. The shares were bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the executive vice president now directly owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 24,249,912 shares of company stock worth $388,709,806 over the last 90 days. Company insiders own 2.60% of the company's stock.

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.