KBC Group NV Acquires 4,019 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

KBC Group NV raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 44,734 shares of the company’s stock after purchasing an additional 4,019 shares during the period. KBC Group NV’s holdings in SoFi Technologies were worth $520,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies during the 4th quarter valued at about $27,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $31,000. Garde Capital Inc. purchased a new stake in shares of SoFi Technologies during the first quarter valued at approximately $31,000. Mpwm Advisory Solutions LLC purchased a new position in SoFi Technologies in the 4th quarter worth approximately $32,000. Finally, IAG Wealth Partners LLC purchased a new position in SoFi Technologies in the 4th quarter worth approximately $38,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

SOFI opened at $18.54 on Friday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.92. The company has a market cap of $20.49 billion, a price-to-earnings ratio of 45.21, a PEG ratio of 3.15 and a beta of 1.91. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $14.40 and its 200 day moving average is $14.03.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same period in the prior year, the company earned $0.02 earnings per share. The firm’s revenue was up 32.7% on a year-over-year basis. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the transaction, the executive vice president directly owned 203,509 shares of the company’s stock, valued at $2,722,950.42. The trade was a 5.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 274,095 shares of company stock worth $3,939,168. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SOFI. UBS Group lifted their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Citizens Jmp began coverage on SoFi Technologies in a report on Friday, April 25th. They issued an “outperform” rating and a $17.00 target price for the company. Stephens initiated coverage on SoFi Technologies in a report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 target price for the company. JMP Securities assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 target price for the company. Finally, Truist Financial assumed coverage on shares of SoFi Technologies in a report on Monday, June 2nd. They set a “hold” rating and a $14.00 price target on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus price target of $14.73.

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.