SBI Securities Co. Ltd. Acquires New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

SBI Securities Co. Ltd. acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, Holdings Channel.com reports. The firm acquired 240,445 shares of the company’s stock, valued at approximately $3,703,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hanseatic Management Services Inc. purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at $1,116,000. Kercheville Advisors LLC acquired a new position in SoFi Technologies during the 4th quarter worth $1,594,000. Charles Schwab Investment Management Inc. grew its stake in 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 purchasing an additional 87,097 shares in the last quarter. Zacks Investment Management acquired a new position in SoFi Technologies during the 3rd quarter worth $3,766,000. Finally, Citizens Financial Group Inc. RI grew its stake in SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after purchasing an additional 70,603 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SOFI. The Goldman Sachs Group boosted their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Citigroup boosted their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Finally, Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $14.47 on Friday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a market capitalization of $15.70 billion, a P/E ratio of 39.11, a PEG ratio of 2.24 and a beta of 1.78. The business has a 50 day moving average price of $15.54 and a 200 day moving average price of $12.50. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 prior year, the company posted $0.04 earnings per share. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,008,465 shares of company stock valued at $416,952,167. Corporate insiders own 2.60% of the company’s stock.

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.