MFG Wealth Management Inc. Acquires Shares of 122,390 SoFi Technologies, Inc. (NASDAQ:SOFI)

MFG Wealth Management Inc. bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 122,390 shares of the company's stock, valued at approximately $1,885,000. SoFi Technologies accounts for 1.7% of MFG Wealth Management Inc.'s holdings, making the stock its 29th largest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC increased its stake in SoFi Technologies by 93.0% in the third quarter. CWM LLC now owns 98,956 shares of the company's stock valued at $778,000 after purchasing an additional 47,672 shares in the last quarter. NBC Securities Inc. increased its stake in SoFi Technologies by 12.7% in the third quarter. NBC Securities Inc. now owns 9,581 shares of the company's stock valued at $75,000 after purchasing an additional 1,081 shares in the last quarter. Capital Advisors Wealth Management LLC increased its stake in SoFi Technologies by 5.0% in the third quarter. Capital Advisors Wealth Management LLC now owns 108,179 shares of the company's stock valued at $850,000 after purchasing an additional 5,180 shares in the last quarter. Vontobel Holding Ltd. increased its stake in SoFi Technologies by 5.5% in the third quarter. Vontobel Holding Ltd. now owns 199,575 shares of the company's stock valued at $1,569,000 after purchasing an additional 10,338 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in SoFi Technologies by 58.7% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 16,478 shares of the company's stock valued at $130,000 after purchasing an additional 6,096 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SOFI shares. UBS Group lifted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Citigroup upped their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Bank of America reiterated an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Morgan Stanley boosted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and an average target price of $12.50.

SoFi Technologies Trading Up 6.7 %

SOFI traded up $1.02 during trading on Friday, hitting $16.21. 63,149,894 shares of the stock traded hands, compared to its average volume of 43,586,292. The firm has a market capitalization of $17.59 billion, a P/E ratio of 43.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a 50-day moving average of $15.69 and a 200 day moving average of $11.91. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 previous year, the business posted $0.04 earnings per share. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.27 EPS for the current year.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares of the company's stock, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,008,870 shares of company stock valued at $416,950,073. Company insiders own 2.60% of the company's stock.

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.