Zurcher Kantonalbank Zurich Cantonalbank Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 194,835 shares of the company’s stock after buying an additional 17,865 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in SoFi Technologies were worth $1,939,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its stake in shares of SoFi Technologies by 21.5% in the 3rd quarter. AE Wealth Management LLC now owns 111,637 shares of the company’s stock valued at $892,000 after purchasing an additional 19,766 shares during the last quarter. DnB Asset Management AS purchased a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $789,000. SG Americas Securities LLC grew its stake in shares of SoFi Technologies by 23.5% in the 3rd quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock valued at $275,000 after purchasing an additional 6,548 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of SoFi Technologies by 202.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock valued at $120,000 after purchasing an additional 10,013 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $82,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SOFI shares. Wedbush reiterated an “underperform” rating and issued a $3.00 target price on shares of SoFi Technologies in a research note on Wednesday, March 6th. Morgan Stanley reissued an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Needham & Company LLC began coverage on SoFi Technologies in a report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target for the company. Citigroup began coverage on SoFi Technologies in a report on Monday, April 8th. They issued a “buy” rating and a $11.00 price target for the company. Finally, Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $9.08.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $7.60 on Thursday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The stock has a fifty day moving average of $7.67 and a two-hundred day moving average of $7.90. The company has a market capitalization of $7.42 billion, a price-to-earnings ratio of -20.00 and a beta of 1.75. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $615.40 million during the quarter, compared to the consensus estimate of $572.02 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. SoFi Technologies’s revenue was up 34.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) earnings per share. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

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.