OLD Second National Bank of Aurora Acquires 55,607 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

OLD Second National Bank of Aurora lifted its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 21.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 318,367 shares of the company’s stock after buying an additional 55,607 shares during the quarter. OLD Second National Bank of Aurora’s holdings in SoFi Technologies were worth $3,168,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of SOFI. Moneta Group Investment Advisors LLC acquired a new stake in SoFi Technologies in the 4th quarter worth about $83,643,000. Norges Bank acquired a new stake in SoFi Technologies in the 4th quarter worth about $44,799,000. State Street Corp raised its stake in SoFi Technologies by 76.6% in the 2nd quarter. State Street Corp now owns 11,686,894 shares of the company’s stock worth $61,590,000 after purchasing an additional 5,068,034 shares in the last quarter. Vanguard Group Inc. raised its stake in SoFi Technologies by 7.8% in the 3rd quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock worth $326,027,000 after purchasing an additional 4,846,633 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in SoFi Technologies by 241.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company’s stock valued at $38,772,000 after buying an additional 2,755,197 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Up 2.7 %

SoFi Technologies stock traded up $0.19 during mid-day trading on Thursday, reaching $7.35. The stock had a trading volume of 11,759,334 shares, compared to its average volume of 52,882,602. The company has a market capitalization of $7.18 billion, a price-to-earnings ratio of -19.26 and a beta of 1.75. The company has a 50-day moving average price of $7.76 and a two-hundred day moving average price of $7.91. SoFi Technologies, Inc. has a one year low of $4.45 and a one year high of $11.70. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.04 and a quick ratio of 0.23.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 29th. The company reported $0.02 earnings per share (EPS) for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The company had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. During the same quarter in the previous year, the business posted ($0.05) EPS. SoFi Technologies’s revenue was up 34.7% compared to the same quarter last year. On average, analysts expect that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on SOFI shares. Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their target price for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Mizuho dropped their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Needham & Company LLC started coverage on shares of SoFi Technologies in a research report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of SoFi Technologies in a research report on Wednesday, January 10th. They issued a “hold” rating and a $11.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.08.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.70% of the stock is currently owned by corporate insiders.

About SoFi Technologies

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.