Sciencast Management LP Purchases Shares of 32,026 SoFi Technologies, Inc. (NASDAQ:SOFI)

Sciencast Management LP acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, Holdings Channel.com reports. The fund acquired 32,026 shares of the company’s stock, valued at approximately $493,000.

A number of other institutional investors have also recently made changes to their positions in SOFI. State Street Corp lifted its position in shares of SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after buying an additional 310,532 shares in the last quarter. Geode Capital Management LLC boosted its stake 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 last quarter. Charles Schwab Investment Management Inc. boosted its stake in SoFi Technologies by 2.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock valued at $97,230,000 after buying an additional 167,780 shares during the last quarter. Azora Capital LP boosted its stake in SoFi Technologies by 8.8% during the third quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock valued at $34,176,000 after buying an additional 352,901 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in SoFi Technologies by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company’s stock valued at $49,640,000 after buying an additional 8,218 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group increased their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.50.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 106,819 shares of company stock worth $1,447,044 in the last ninety days. 2.60% of the stock is owned by company insiders.

SoFi Technologies Trading Up 1.8 %

Shares of NASDAQ SOFI opened at $12.87 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The business’s 50 day moving average price is $14.67 and its 200-day moving average price is $13.01. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a market cap of $14.11 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly 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 period in the prior year, the business earned $0.04 EPS. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 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.