Charles Schwab Investment Management Inc. Increases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Charles Schwab Investment Management Inc. lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,145,837 shares of the company’s stock after buying an additional 87,097 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in SoFi Technologies were worth $48,306,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in SoFi Technologies by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 535,894 shares of the company’s stock valued at $3,913,000 after buying an additional 37,984 shares in the last quarter. Janus Henderson Group PLC raised its position in shares of SoFi Technologies by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 457,322 shares of the company’s stock worth $3,336,000 after purchasing an additional 55,182 shares during the last quarter. Tidal Investments LLC lifted its stake in shares of SoFi Technologies by 15.2% in the first quarter. Tidal Investments LLC now owns 33,733 shares of the company’s stock worth $246,000 after buying an additional 4,459 shares in the last quarter. Comerica Bank lifted its position in SoFi Technologies by 27.1% in the 1st quarter. Comerica Bank now owns 23,782 shares of the company’s stock valued at $174,000 after acquiring an additional 5,071 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of SoFi Technologies by 905.2% during the first quarter. Cetera Investment Advisers now owns 779,982 shares of the company’s stock valued at $5,694,000 after buying an additional 702,385 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Up 1.8 %

Shares of SoFi Technologies stock opened at $16.41 on Monday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $16.61. The company’s fifty day simple moving average is $11.23 and its 200-day simple moving average is $8.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The stock has a market capitalization of $17.81 billion, a PE ratio of 164.12, a P/E/G ratio of 2.73 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.03) earnings per share. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company’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 completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 96,287 shares of company stock worth $863,250. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Jefferies Financial Group boosted their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Barclays increased their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho lifted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group boosted their target price on shares of 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 downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $9.80.

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.