World Investment Advisors LLC Grows Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

World Investment Advisors LLC increased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,745 shares of the company’s stock after acquiring an additional 1,336 shares during the period. World Investment Advisors LLC’s holdings in SoFi Technologies were worth $171,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp grew its stake in shares of SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after purchasing an additional 310,532 shares during the period. Geode Capital Management LLC grew its position in SoFi Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock valued at $138,523,000 after buying an additional 358,806 shares during the period. Dimensional Fund Advisors LP increased its holdings in SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Marshall Wace LLP raised its position in SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SOFI shares. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. upped their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.04.

SoFi Technologies Stock Down 1.4 %

SOFI opened at $15.03 on Friday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $17.19. 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 firm has a 50-day simple moving average of $13.42 and a two-hundred day simple moving average of $9.37. The company has a market capitalization of $16.31 billion, a PE ratio of 150.32, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares in the company, valued at approximately $7,742,252.98. This trade represents a 78.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now directly owns 25,937 shares in the company, valued at $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,944,667 shares of company stock worth $415,803,539. 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.