World Investment Advisors LLC Increases Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

World Investment Advisors LLC increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,745 shares of the company’s stock after purchasing an additional 1,336 shares during the period. World Investment Advisors LLC’s holdings in SoFi Technologies were worth $171,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of SoFi Technologies during the third quarter valued at approximately $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. Allspring Global Investments Holdings LLC boosted its holdings in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC bought a new position in SoFi Technologies in the 3rd quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies in the third quarter worth $47,000. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Finally, Mizuho raised their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $11.04.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The disclosure for this sale can be found here. Insiders sold a total of 25,944,667 shares of company stock worth $415,803,539 over the last three months. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $15.03 on Friday. The stock’s 50-day moving average is $13.42 and its 200 day moving average is $9.37. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market cap of $16.31 billion, a P/E ratio of 150.32, a PEG ratio of 2.65 and a beta of 1.77.

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

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.