SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,934,983 shares of the company's stock after buying an additional 315,899 shares during the quarter. Geode Capital Management LLC owned 1.65% of SoFi Technologies worth $276,288,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $103,678,000. Amundi boosted its holdings in SoFi Technologies by 58,176.3% during the fourth quarter. Amundi now owns 2,705,185 shares of the company's stock worth $39,360,000 after buying an additional 2,700,543 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in SoFi Technologies by 123.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,740,628 shares of the company's stock worth $40,671,000 after buying an additional 1,512,326 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in SoFi Technologies in the fourth quarter valued at about $14,479,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Up 19.9 %

Shares of SoFi Technologies stock traded up $1.89 during trading hours on Wednesday, reaching $11.39. 93,681,300 shares of the company's stock were exchanged, compared to its average volume of 45,934,428. The firm has a market capitalization of $12.49 billion, a price-to-earnings ratio of 30.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The company has a fifty day moving average of $13.21 and a 200-day moving average of $13.37.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 business posted $0.04 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SOFI shares. Needham & Company LLC upped their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. Morgan Stanley lifted their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. UBS Group increased their price objective 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. Finally, The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $12.50.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,185 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $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. Over the last three months, insiders have sold 97,905 shares of company stock valued at $1,308,075. Insiders own 2.60% of the company's stock.

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.