SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Position Lifted by Y.D. More Investments Ltd

Y.D. More Investments Ltd grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 29.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 80,807 shares of the company’s stock after purchasing an additional 18,600 shares during the period. Y.D. More Investments Ltd’s holdings in SoFi Technologies were worth $804,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. SG Americas Securities LLC increased its position in SoFi Technologies by 23.5% in the 3rd quarter. SG Americas Securities LLC now owns 34,436 shares of the company’s stock worth $275,000 after purchasing an additional 6,548 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in SoFi Technologies by 202.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock valued at $120,000 after purchasing an additional 10,013 shares during the period. Handelsbanken Fonder AB lifted its position in shares of SoFi Technologies by 18.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 133,900 shares of the company’s stock worth $1,070,000 after acquiring an additional 20,500 shares during the period. Simplicity Solutions LLC increased its stake in shares of SoFi Technologies by 42.1% in the 3rd quarter. Simplicity Solutions LLC now owns 17,385 shares of the company’s stock valued at $139,000 after buying an additional 5,147 shares during the period. Finally, Commonwealth Equity Services LLC increased its stake in shares of SoFi Technologies by 12.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 1,075,755 shares of the company’s stock valued at $8,595,000 after buying an additional 123,289 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock traded up $0.14 on Wednesday, hitting $6.92. The stock had a trading volume of 67,172,703 shares, compared to its average volume of 54,408,094. SoFi Technologies, Inc. has a twelve month low of $4.45 and a twelve month high of $11.70. The business’s 50 day moving average is $7.58 and its two-hundred day moving average is $7.87. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The stock has a market cap of $6.76 billion, a price-to-earnings ratio of -22.32 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The company had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The firm’s revenue for the quarter was up 26.2% on a year-over-year basis. Analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction that occurred on 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 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 filing with the SEC, which is available at this link. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft decreased their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Citigroup began 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 upgraded SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Finally, Wedbush reiterated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Tuesday. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $9.08.

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.