Ardmore Road Asset Management LP Has $7.70 Million Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Ardmore Road Asset Management LP lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 37.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 500,000 shares of the company’s stock after selling 300,000 shares during the quarter. Ardmore Road Asset Management LP’s holdings in SoFi Technologies were worth $7,700,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in SoFi Technologies during the fourth quarter worth about $27,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC increased its stake in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC acquired a new position in SoFi Technologies during the fourth quarter valued at approximately $38,000. Finally, Nomura Asset Management Co. Ltd. lifted its stake in SoFi Technologies by 33.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock worth $68,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Morgan Stanley increased their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Citigroup upped their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $12.50.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the sale, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $11.91 on Wednesday. The firm has a market cap of $13.06 billion, a P/E ratio of 32.19, a P/E/G ratio of 2.24 and a beta of 1.79. The stock’s 50 day moving average is $14.20 and its 200 day moving average is $13.31. 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, Inc. has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.