Mandatum Life Insurance Co Ltd Acquires 25,100 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Mandatum Life Insurance Co Ltd lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 180.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,972 shares of the company's stock after purchasing an additional 25,100 shares during the quarter. Mandatum Life Insurance Co Ltd's holdings in SoFi Technologies were worth $600,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hanseatic Management Services Inc. purchased a new position in shares of SoFi Technologies during the fourth quarter worth about $1,116,000. Arkadios Wealth Advisors boosted its stake in SoFi Technologies by 2.9% in the fourth quarter. Arkadios Wealth Advisors now owns 62,312 shares of the company's stock worth $960,000 after buying an additional 1,781 shares in the last quarter. Merit Financial Group LLC boosted its stake in SoFi Technologies by 65.9% in the fourth quarter. Merit Financial Group LLC now owns 31,172 shares of the company's stock worth $480,000 after buying an additional 12,383 shares in the last quarter. Avanza Fonder AB purchased a new stake in SoFi Technologies in the fourth quarter worth approximately $1,008,000. Finally, Procyon Advisors LLC boosted its stake in SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock worth $208,000 after buying an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Up 1.2 %

SOFI traded up $0.20 during trading on Monday, reaching $16.50. The stock had a trading volume of 40,249,333 shares, compared to its average volume of 36,048,924. The stock's 50 day moving average is $15.32 and its two-hundred day moving average is $10.69. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $17.90 billion, a price-to-earnings ratio of 165.02, a P/E/G ratio of 0.96 and a beta of 1.78. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $17.19.

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SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The firm's quarterly revenue was up 29.8% compared to the same quarter last year. As a group, analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the firm's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company's stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 25,999,956 shares of company stock valued at $416,793,365. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on SOFI shares. Citigroup upped 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. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a research note on Wednesday, October 30th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Finally, Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of "Hold" and a consensus target price of $11.71.

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.