Ardmore Road Asset Management LP Sells 300,000 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Ardmore Road Asset Management LP lessened its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 37.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 500,000 shares of the company’s stock after selling 300,000 shares during the period. Ardmore Road Asset Management LP’s holdings in SoFi Technologies were worth $7,700,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of SOFI. Vanguard Group Inc. raised its stake in SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after buying an additional 8,898,879 shares during the period. State Street Corp increased its holdings in shares of SoFi Technologies by 1.7% in the third quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after acquiring an additional 310,532 shares in the last quarter. Geode Capital Management LLC raised its position in shares of SoFi Technologies by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after purchasing an additional 315,899 shares during the period. Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter valued at about $103,678,000. Finally, Charles Schwab Investment Management Inc. grew its position in shares of SoFi Technologies by 2.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock valued at $97,230,000 after purchasing an additional 167,780 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reissued an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock worth $1,308,075 over the last ninety days. Insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Up 2.4 %

Shares of NASDAQ:SOFI opened at $11.91 on Wednesday. The company has a 50-day simple moving average of $14.20 and a 200 day simple moving average of $13.31. The company has a market capitalization of $13.06 billion, a P/E ratio of 32.19, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the business earned $0.04 earnings per share. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current 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.