Oppenheimer & Co. Inc. Acquires 118,288 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Oppenheimer & Co. Inc. increased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 47.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 365,439 shares of the company’s stock after buying an additional 118,288 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in SoFi Technologies were worth $5,628,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $1,116,000. Kercheville Advisors LLC bought a new stake in SoFi Technologies during the 4th quarter valued at $1,594,000. Charles Schwab Investment Management Inc. raised its position in 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 valued at $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Zacks Investment Management bought a new stake in SoFi Technologies during the 3rd quarter valued at $3,766,000. Finally, Citizens Financial Group Inc. RI raised its position in SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock valued at $1,892,000 after purchasing an additional 70,603 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Trading Up 2.8 %

SOFI opened at $14.47 on Friday. The firm has a market cap of $15.70 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 2.24 and a beta of 1.78. 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 12 month low of $6.01 and a 12 month high of $18.42. The stock has a fifty day moving average price of $15.54 and a 200-day moving average price of $12.46.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the business posted $0.04 EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on SOFI. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Mizuho lifted their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $12.50.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 9,185 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 26,008,465 shares of company stock worth $416,952,167 in the last ninety days. 2.60% of the stock is owned by insiders.

About SoFi Technologies

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.