Rhumbline Advisers Buys 37,892 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Rhumbline Advisers raised its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 3.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,033,602 shares of the company’s stock after buying an additional 37,892 shares during the quarter. Rhumbline Advisers’ holdings in SoFi Technologies were worth $15,917,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Walkner Condon Financial Advisors LLC increased its position in SoFi Technologies by 8.1% during the fourth quarter. Walkner Condon Financial Advisors LLC now owns 36,355 shares of the company’s stock valued at $560,000 after acquiring an additional 2,735 shares during the last quarter. MFG Wealth Management Inc. bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $1,885,000. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors purchased a new stake in shares of SoFi Technologies during the 4th quarter valued at about $196,000. Capital Advisors Inc. OK lifted its stake in shares of SoFi Technologies by 29.3% in the 4th quarter. Capital Advisors Inc. OK now owns 13,251 shares of the company’s stock worth $204,000 after purchasing an additional 3,001 shares during the period. Finally, Savant Capital LLC boosted its holdings in shares of SoFi Technologies by 4.0% in the fourth quarter. Savant Capital LLC now owns 42,392 shares of the company’s stock worth $653,000 after buying an additional 1,614 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Finally, Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus 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 shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,008,465 shares of company stock worth $416,952,167. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 5.7 %

Shares of SOFI opened at $14.67 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a 50 day simple moving average of $15.70 and a two-hundred day simple moving average of $12.19. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The firm has a market cap of $15.92 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 2.33 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same period in the prior year, the company posted $0.04 EPS. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal 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.