L & S Advisors Inc Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

L & S Advisors Inc purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 522,312 shares of the company’s stock, valued at approximately $8,044,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after buying an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $103,678,000. Amundi lifted its position in shares of SoFi Technologies by 58,176.3% in the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after purchasing an additional 2,700,543 shares during the period. Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at $16,014,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of SoFi Technologies by 123.1% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,740,628 shares of the company’s stock worth $40,671,000 after buying an additional 1,512,326 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Insider Activity at SoFi Technologies

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

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on SOFI shares. JPMorgan Chase & Co. lifted 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. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Bank of America reissued an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Down 2.9 %

Shares of SOFI opened at $11.85 on Friday. The company has a 50-day moving average of $14.42 and a 200 day moving average of $13.17. 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 1-year low of $6.01 and a 1-year high of $18.42. The firm has a market capitalization of $12.99 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the prior year, the company earned $0.04 EPS. On average, 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.