SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by Handelsbanken Fonder AB

Handelsbanken Fonder AB grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.3% during the 4th quarter, Holdings Channel reports. The firm owned 252,100 shares of the company’s stock after purchasing an additional 25,500 shares during the period. Handelsbanken Fonder AB’s holdings in SoFi Technologies were worth $3,882,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SOFI. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of SoFi Technologies by 214.9% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies in the 3rd quarter worth $16,014,000. Zacks Investment Management acquired a new position in shares of SoFi Technologies in the 3rd quarter worth $3,766,000. Point72 DIFC Ltd acquired a new position in shares of SoFi Technologies in the 3rd quarter worth $3,219,000. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of SoFi Technologies by 20.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock worth $17,365,000 after acquiring an additional 376,899 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,008,465 shares of company stock valued at $416,952,167. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Jefferies Financial Group lifted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Barclays raised their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC raised their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Price Performance

SOFI opened at $14.67 on Monday. The stock has a market cap of $15.92 billion, a price-to-earnings ratio of 39.65, a PEG ratio of 2.24 and a beta of 1.77. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $15.70 and a 200 day moving average price of $12.27.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data 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 return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the previous year, the business earned $0.04 earnings per share. Analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

SoFi Technologies Company 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.