Everence Capital Management Inc. Buys New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Everence Capital Management Inc. acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 32,360 shares of the company’s stock, valued at approximately $498,000.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in shares of 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. Commonwealth Equity Services LLC grew its holdings in SoFi Technologies by 1.7% in the second quarter. Commonwealth Equity Services LLC now owns 618,955 shares of the company’s stock valued at $4,091,000 after purchasing an additional 10,379 shares during the period. CIBC Asset Management Inc increased its position in shares of SoFi Technologies by 29.6% in the second quarter. CIBC Asset Management Inc now owns 27,447 shares of the company’s stock valued at $181,000 after buying an additional 6,269 shares in the last quarter. Rhumbline Advisers raised its stake in shares of SoFi Technologies by 5.7% during the 2nd quarter. Rhumbline Advisers now owns 979,183 shares of the company’s stock worth $6,472,000 after buying an additional 53,124 shares during the period. Finally, Victory Capital Management Inc. lifted its position in shares of SoFi Technologies by 6.9% during the 2nd quarter. Victory Capital Management Inc. now owns 127,342 shares of the company’s stock valued at $842,000 after buying an additional 8,267 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock worth $416,889,795 in the last 90 days. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SOFI. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley raised their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday. Finally, Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $11.13.

SoFi Technologies Stock Up 5.0 %

Shares of NASDAQ:SOFI opened at $14.84 on Monday. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $17.19. The stock has a market cap of $16.10 billion, a P/E ratio of 148.41, a PEG ratio of 2.70 and a beta of 1.77. The business has a fifty day moving average of $14.59 and a two-hundred day moving average of $10.09. 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 (NASDAQ:SOFI) last announced its quarterly earnings data 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. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the firm posted ($0.03) earnings per share. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. On average, research analysts expect that SoFi Technologies, Inc. will post 0.12 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.