Sei Investments Co. Raises Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Sei Investments Co. increased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 8.8% during the 2nd quarter, Holdings Channel reports. The firm owned 38,976 shares of the company’s stock after acquiring an additional 3,139 shares during the quarter. Sei Investments Co.’s holdings in SoFi Technologies were worth $258,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after acquiring an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in shares of SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after purchasing an additional 6,870,610 shares during the last quarter. Vanguard Group Inc. raised its holdings in SoFi Technologies by 6.6% in the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after purchasing an additional 5,057,233 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of SoFi Technologies in the 4th quarter valued at about $24,571,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SOFI shares. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Wednesday, July 31st. Keefe, Bruyette & Woods cut their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Finally, Barclays cut their price target on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.08.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies 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 of the company’s stock, valued at $1,290,472.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,328 shares of company stock worth $808,246. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $8.63 on Friday. The stock has a market capitalization of $9.12 billion, a PE ratio of -27.84, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $10.49. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. The stock’s 50-day moving average price is $7.51 and its 200-day moving average price is $7.22.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business’s revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.06) earnings per share. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

SoFi Technologies Profile

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.