71,099 Shares in SoFi Technologies, Inc. (NASDAQ:SOFI) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, Holdings Channel.com reports. The fund bought 71,099 shares of the company’s stock, valued at approximately $1,095,000.

Other hedge funds also recently bought and sold shares of the company. SBI Securities Co. Ltd. acquired a new position in shares of SoFi Technologies in the 4th quarter valued at $3,703,000. Hanseatic Management Services Inc. acquired a new position in SoFi Technologies in the fourth quarter valued at about $1,116,000. Kercheville Advisors LLC bought a new stake in shares of SoFi Technologies in the fourth quarter worth about $1,594,000. Charles Schwab Investment Management Inc. raised its position in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the period. Finally, Zacks Investment Management bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $3,766,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 27,013 shares of company stock worth $437,402. 2.60% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of research reports. Needham & Company LLC raised their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $12.73 on Thursday. The firm has a market capitalization of $13.96 billion, a P/E ratio of 34.41, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. 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 firm’s fifty day moving average price is $14.73 and its two-hundred day moving average price is $12.94. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its 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 previous year, the business posted $0.04 EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.