Swiss National Bank Purchases 31,200 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Swiss National Bank boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,991,700 shares of the company’s stock after purchasing an additional 31,200 shares during the quarter. Swiss National Bank owned about 0.18% of SoFi Technologies worth $30,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Rakuten Securities Inc. bought a new position in shares of SoFi Technologies during the 4th quarter worth about $1,370,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at about $31,000. Wealthfront Advisers LLC boosted its holdings in SoFi Technologies by 72.5% during the fourth quarter. Wealthfront Advisers LLC now owns 179,581 shares of the company’s stock worth $2,766,000 after purchasing an additional 75,452 shares during the last quarter. Miller Financial Services LLC bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $1,810,000. Finally, SPX Gestao de Recursos Ltda purchased a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $1,540,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Up 1.9 %

Shares of SoFi Technologies stock opened at $12.32 on Tuesday. The company has a 50 day simple moving average of $14.83 and a two-hundred day simple moving average of $12.92. The firm has a market cap of $13.51 billion, a PE ratio of 33.30, a PEG ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping 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 period in the prior year, the business posted $0.04 earnings per share. Analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on SOFI shares. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. UBS Group increased their price target 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, Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $12.50.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction dated 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 completion of the transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,004 shares of company stock worth $1,459,060 over the last three months. Company insiders own 2.60% of the company’s stock.

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.