Harvest Fund Management Co. Ltd Buys New Shares in SoFi Technologies, Inc. (NASDAQ:SOFI)

Harvest Fund Management Co. Ltd acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 71,099 shares of the company’s stock, valued at approximately $1,095,000.

A number of other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. bought a new position in SoFi Technologies in the fourth quarter worth $3,703,000. Hanseatic Management Services Inc. bought a new position in shares of SoFi Technologies during the 4th quarter worth about $1,116,000. Kercheville Advisors LLC bought a new position in shares of SoFi Technologies during the 4th quarter worth about $1,594,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares during the period. Finally, Zacks Investment Management bought a new position in shares of SoFi Technologies during the 3rd quarter worth about $3,766,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 6.5 %

SOFI stock opened at $12.73 on Thursday. 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 twelve month low of $6.01 and a twelve month high of $18.42. The company has a market cap of $13.96 billion, a P/E ratio of 34.41, a PEG ratio of 2.24 and a beta of 1.79. The business has a fifty day moving average of $14.73 and a 200-day moving average of $12.94.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share 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 quarter in the previous year, the company posted $0.04 earnings per share. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares in the company, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 27,013 shares of company stock worth $437,402 over the last ninety days. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on SOFI shares. Citigroup raised their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

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.