SBI Securities Co. Ltd. Makes New $3.70 Million Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

SBI Securities Co. Ltd. purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 240,445 shares of the company’s stock, valued at approximately $3,703,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. FNY Investment Advisers LLC raised its holdings in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares in the last quarter. SouthState Corp purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $67,000. Finally, Huntington National Bank raised its holdings in shares of SoFi Technologies by 442.0% during the 3rd quarter. Huntington National Bank now owns 8,856 shares of the company’s stock worth $70,000 after acquiring an additional 7,222 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Eric Schuppenhauer bought 30,600 shares of SoFi Technologies stock in a transaction on Monday, December 16th. The shares were bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the transaction, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. This trade represents a 197.36 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the sale, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,008,465 shares of company stock valued at $416,952,167. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $14.47 on Friday. The stock’s fifty day moving average is $15.54 and its two-hundred day moving average is $12.50. The firm has a market capitalization of $15.70 billion, a P/E ratio of 39.11, a price-to-earnings-growth ratio of 2.24 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42.

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, topping analysts’ consensus estimates 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 last year, the company earned $0.04 EPS. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SOFI. Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. 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 report on Tuesday, January 28th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. The Goldman Sachs Group increased their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Citigroup increased their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $12.50.

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.