Vestmark Advisory Solutions Inc. Acquires 57,571 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Vestmark Advisory Solutions Inc. lifted its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 24.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 290,992 shares of the company’s stock after buying an additional 57,571 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in SoFi Technologies were worth $4,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new position in shares of SoFi Technologies in the 4th quarter worth $3,703,000. Hanseatic Management Services Inc. purchased a new position in shares of SoFi Technologies in the 4th quarter worth $1,116,000. Kercheville Advisors LLC purchased a new position in shares of SoFi Technologies in the 4th quarter worth $1,594,000. Charles Schwab Investment Management Inc. boosted its stake in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Finally, Zacks Investment Management purchased a new position in shares of SoFi Technologies in the 3rd quarter worth $3,766,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at SoFi Technologies

In other news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Eric Schuppenhauer bought 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 144,004 shares of company stock valued at $2,292,100. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $12.45 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business’s 50-day simple moving average is $15.31 and its two-hundred day simple moving average is $12.63. The stock has a market cap of $13.65 billion, a PE ratio of 33.65, a P/E/G ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 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 firm earned $0.04 EPS. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research reports. Needham & Company LLC raised their price target on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Morgan Stanley lifted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Bank of America reiterated an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, The Goldman Sachs Group lifted their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. 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 company’s stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus target price of $12.50.

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.