Swiss National Bank Has $15.41 Million Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Swiss National Bank reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 0.7% in the 3rd quarter, Holdings Channel reports. The firm owned 1,960,500 shares of the company’s stock after selling 13,400 shares during the period. Swiss National Bank’s holdings in SoFi Technologies were worth $15,410,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies during the third quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC acquired a new position in shares of SoFi Technologies during the third quarter worth approximately $39,000. GAMMA Investing LLC lifted its holdings in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after buying an additional 1,981 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies during the third quarter worth approximately $47,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $9.80.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,287 shares of company stock worth $863,250. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $15.60 on Friday. The business’s fifty day moving average price is $10.44 and its two-hundred day moving average price is $8.20. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $15.75. The stock has a market capitalization of $16.93 billion, a price-to-earnings ratio of 156.02, a price-to-earnings-growth ratio of 2.40 and a beta of 1.60. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.03) earnings per share. As a group, analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal 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.