Charles Schwab Investment Management Inc. Buys 159,109 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Charles Schwab Investment Management Inc. grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,472,726 shares of the company’s stock after buying an additional 159,109 shares during the period. Charles Schwab Investment Management Inc.’s holdings in SoFi Technologies were worth $75,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after buying an additional 1,130,250 shares during the period. Two Sigma Advisers LP bought a new stake in shares of SoFi Technologies during the fourth quarter valued at about $299,980,000. Northern Trust Corp increased its position in shares of SoFi Technologies by 22.7% during the fourth quarter. Northern Trust Corp now owns 6,052,301 shares of the company’s stock valued at $93,205,000 after buying an additional 1,121,550 shares during the period. Voloridge Investment Management LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at about $75,139,000. Finally, Azora Capital LP increased its position in shares of SoFi Technologies by 1.6% during the fourth quarter. Azora Capital LP now owns 4,419,345 shares of the company’s stock valued at $68,058,000 after buying an additional 71,277 shares during the period. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $23.81 on Thursday. The firm has a market cap of $26.32 billion, a PE ratio of 49.60, a price-to-earnings-growth ratio of 2.94 and a beta of 1.93. SoFi Technologies, Inc. has a fifty-two week low of $6.56 and a fifty-two week high of $25.11. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The business has a 50 day moving average price of $19.03 and a 200-day moving average price of $15.17.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%. The business’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

SOFI has been the subject of several recent analyst reports. UBS Group boosted their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a report on Wednesday, April 30th. Redburn Atlantic raised SoFi Technologies to a “hold” rating in a report on Friday, August 1st. Needham & Company LLC boosted their price objective on SoFi Technologies from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, July 30th. Citizens Jmp lowered SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 14th. Finally, Barclays boosted their price objective on SoFi Technologies from $18.00 to $21.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $18.29.

Insider Activity

In other news, EVP Kelli Keough sold 10,267 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $21.80, for a total transaction of $223,820.60. Following the completion of the sale, the executive vice president owned 245,200 shares of the company’s stock, valued at approximately $5,345,360. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction that occurred on 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 sale, the chief technology officer directly owned 724,321 shares of the company’s stock, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 273,181 shares of company stock valued at $4,043,240. 2.60% of the stock is currently owned by company 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.