Voleon Capital Management LP Buys New Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Voleon Capital Management LP purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 131,853 shares of the company's stock, valued at approximately $2,031,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares during the period. Norges Bank purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $103,678,000. Amundi grew its stake in shares of SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company's stock valued at $39,360,000 after acquiring an additional 2,700,543 shares during the period. First Trust Advisors LP increased its holdings in SoFi Technologies by 583.6% in the 4th quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock worth $41,375,000 after acquiring an additional 2,293,622 shares in the last quarter. Finally, Aquatic Capital Management LLC bought a new stake in SoFi Technologies during the 4th quarter worth approximately $26,755,000. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of recent analyst reports. JMP Securities began coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. UBS Group raised their price target on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday. Citigroup upped their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Finally, Barclays lifted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a report on Wednesday. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, SoFi Technologies presently has an average rating of "Hold" and an average price target of $14.38.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction 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 transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction 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. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,172 shares of company stock valued at $1,271,115. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $12.51 on Thursday. The stock has a 50 day moving average price of $12.05 and a 200-day moving average price of $13.70. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The stock has a market cap of $13.72 billion, a price-to-earnings ratio of 33.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

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

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.

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