Zacks Investment Management Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Zacks Investment Management bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 479,180 shares of the company's stock, valued at approximately $3,766,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the third quarter valued at approximately $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies in the 3rd quarter worth $28,000. Allspring Global Investments Holdings LLC lifted its holdings in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock worth $29,000 after buying an additional 1,543 shares in the last quarter. GAMMA Investing LLC boosted its position in SoFi Technologies by 65.3% in the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock valued at $33,000 after buying an additional 1,981 shares during the last quarter. Finally, Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies during the third quarter valued at about $39,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company's stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares of the company's stock, valued at $1,290,472.89. The trade was a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,960,748 shares of company stock worth $415,523,316 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on SOFI shares. Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Bank of America restated an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Finally, Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and an average price target of $10.50.

SoFi Technologies Stock Performance

NASDAQ SOFI traded down $0.45 on Monday, hitting $15.57. The stock had a trading volume of 59,423,230 shares, compared to its average volume of 47,595,637. The company's 50-day moving average is $12.04 and its two-hundred day moving average is $8.84. The stock has a market cap of $16.90 billion, a price-to-earnings ratio of 155.72, a P/E/G ratio of 2.66 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $16.61.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. During the same period last year, the firm earned ($0.03) EPS. The firm's revenue was up 29.8% compared to the same quarter last year. On average, analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

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.