ARK Investment Management LLC Raises Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

ARK Investment Management LLC lifted its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 143.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,970,742 shares of the company’s stock after acquiring an additional 1,160,125 shares during the quarter. ARK Investment Management LLC’s holdings in SoFi Technologies were worth $19,609,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of SoFi Technologies by 11.7% in the 2nd quarter. US Bancorp DE now owns 11,750 shares of the company’s stock worth $98,000 after acquiring an additional 1,235 shares during the last quarter. Snowden Capital Advisors LLC lifted its holdings in SoFi Technologies by 8.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 15,375 shares of the company’s stock valued at $128,000 after buying an additional 1,250 shares in the last quarter. Wedmont Private Capital lifted its holdings in SoFi Technologies by 13.2% during the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock valued at $120,000 after buying an additional 1,411 shares in the last quarter. Oppenheimer & Co. Inc. lifted its holdings in SoFi Technologies by 0.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 192,238 shares of the company’s stock valued at $1,536,000 after buying an additional 1,413 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in SoFi Technologies by 8.9% during the 2nd quarter. MetLife Investment Management LLC now owns 18,167 shares of the company’s stock valued at $152,000 after buying an additional 1,481 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft assumed coverage on shares of SoFi Technologies in a report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price objective for the company. Mizuho decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Wedbush restated an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a report on Wednesday, March 6th. Jefferies Financial Group cut their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $8.97.

SoFi Technologies Stock Up 2.2 %

SoFi Technologies stock opened at $7.36 on Thursday. SoFi Technologies, Inc. has a 12-month low of $4.45 and a 12-month high of $11.70. The company has a 50-day moving average price of $7.89 and a 200 day moving average price of $8.01. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $572.02 million. During the same period last year, the business earned ($0.05) earnings per share. SoFi Technologies’s revenue was up 34.7% compared to the same quarter last year. As a group, analysts expect that SoFi Technologies, Inc. will post 0.07 EPS for the current fiscal year.

SoFi Technologies Company 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.