Bank of Nova Scotia Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Bank of Nova Scotia acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 936,332 shares of the company's stock, valued at approximately $14,420,000. Bank of Nova Scotia owned approximately 0.09% of SoFi Technologies at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. lifted its stake in SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after purchasing an additional 620,800 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $3,703,000. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter worth about $1,116,000. Kercheville Advisors LLC acquired a new position in SoFi Technologies in the fourth quarter valued at about $1,594,000. Finally, Baltimore Washington Financial Advisors Inc. increased its holdings in shares of SoFi Technologies by 12.9% during the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company's stock worth $9,131,000 after buying an additional 67,779 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $1,308,075 over the last quarter. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SOFI. Morgan Stanley lifted their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Citigroup raised their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Performance

SoFi Technologies stock traded up $0.14 during trading hours on Tuesday, hitting $10.96. The company had a trading volume of 14,129,568 shares, compared to its average volume of 45,922,355. The firm has a market cap of $12.01 billion, a PE ratio of 29.59, a PEG ratio of 2.24 and a beta of 1.86. The firm has a 50-day moving average of $12.92 and a 200 day moving average of $13.47. 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, Inc. has a one year low of $6.01 and a one year high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. 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 18.64% and a return on equity of 3.82%. During the same period in the prior year, the company posted $0.04 earnings per share. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.