Connective Portfolio Management LLC Purchases New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

Connective Portfolio Management LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 30,120 shares of the company’s stock, valued at approximately $464,000.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp raised its stake in SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after acquiring an additional 310,532 shares during the period. Geode Capital Management LLC increased its position in shares of SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Marshall Wace LLP lifted its stake in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after buying an additional 87,097 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $15.51 on Thursday. The company’s fifty day moving average price is $15.08 and its 200-day moving average price is $10.49. The stock has a market cap of $16.83 billion, a PE ratio of 155.12, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on SOFI shares. Barclays raised their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. William Blair initiated coverage on shares of SoFi Technologies in a report on Wednesday. They issued an “outperform” rating on the stock. JPMorgan Chase & Co. increased their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Morgan Stanley raised their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a report on Thursday, December 19th. Finally, The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $11.71.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now directly owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 in the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

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.