SoFi Technologies, Inc. (NASDAQ:SOFI) Position Increased by Level Four Advisory Services LLC

Level Four Advisory Services LLC raised its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,064 shares of the company’s stock after purchasing an additional 8,039 shares during the period. Level Four Advisory Services LLC’s holdings in SoFi Technologies were worth $279,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Dimensional Fund Advisors LP acquired a new position in shares of SoFi Technologies during the 4th quarter worth about $38,595,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SoFi Technologies by 241.4% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock valued at $38,772,000 after purchasing an additional 2,755,197 shares in the last quarter. Nikko Asset Management Americas Inc. lifted its position in SoFi Technologies by 241.4% in the fourth quarter. Nikko Asset Management Americas Inc. now owns 3,896,692 shares of the company’s stock worth $38,733,000 after purchasing an additional 2,755,197 shares during the period. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after buying an additional 2,567,797 shares in the last quarter. Finally, FMR LLC lifted its holdings in shares of SoFi Technologies by 14,136.9% during the 3rd quarter. FMR LLC now owns 2,317,905 shares of the company’s stock worth $18,520,000 after acquiring an additional 2,301,624 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SOFI. Citigroup initiated coverage on SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price objective for the company. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Jefferies Financial Group dropped their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft decreased their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $9.08.

Insider Activity

In related news, CEO Anthony Noto purchased 28,775 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the transaction, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Anthony Noto acquired 28,775 shares of the stock in a transaction that occurred on Friday, May 3rd. The stock was acquired at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total value of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 0.8 %

Shares of SOFI opened at $7.02 on Thursday. The company’s 50-day moving average is $7.26 and its 200-day moving average is $7.82. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. SoFi Technologies, Inc. has a fifty-two week low of $5.09 and a fifty-two week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The firm had revenue of $580.60 million during the quarter, compared to the consensus estimate of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The business’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.05) EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.08 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.