Perennial Investment Advisors LLC Increases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Perennial Investment Advisors LLC boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,007 shares of the company’s stock after buying an additional 9,103 shares during the period. Perennial Investment Advisors LLC’s holdings in SoFi Technologies were worth $1,571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of SoFi Technologies by 9.9% during the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after buying an additional 8,898,879 shares during the last quarter. State Street Corp lifted its position in SoFi Technologies by 1.7% during the 3rd 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 during the period. Geode Capital Management LLC grew its stake in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock valued at $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Norges Bank purchased a new stake in SoFi Technologies during the 4th quarter valued at about $103,678,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 2.7% in the fourth 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. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Down 10.1 %

Shares of NASDAQ SOFI opened at $9.57 on Friday. The firm has a market cap of $10.49 billion, a price-to-earnings ratio of 25.86, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The company’s 50-day simple moving average is $13.78 and its 200-day simple moving average is $13.30. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate 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 posted $0.04 EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on SOFI. UBS Group upped their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Needham & Company LLC raised their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Finally, Morgan Stanley lifted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $12.50.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following 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 represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $1,308,075 in the last 90 days. 2.60% of the stock is owned by insiders.

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.