Mizuho Markets Americas LLC Trims Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Mizuho Markets Americas LLC reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 3.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,942,737 shares of the company's stock after selling 103,000 shares during the quarter. Mizuho Markets Americas LLC owned about 0.28% of SoFi Technologies worth $23,130,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock valued at $29,000 after acquiring an additional 1,543 shares during the period. GAMMA Investing LLC increased its position in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company's stock worth $33,000 after buying an additional 1,981 shares during the period. Waldron Private Wealth LLC bought a new position in SoFi Technologies during the 3rd quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies during the 3rd quarter worth $47,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Stock Up 1.7 %

Shares of NASDAQ:SOFI traded up $0.23 during mid-day trading on Friday, hitting $13.63. 48,186,516 shares of the company traded hands, compared to its average volume of 47,592,203. The stock has a market cap of $14.53 billion, a P/E ratio of 136.30, a P/E/G ratio of 2.25 and a beta of 1.60. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $14.44. The stock has a 50-day moving average price of $9.70 and a two-hundred day moving average price of $7.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts' expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies's quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the business's stock in a transaction on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on SOFI shares. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Barclays raised their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Wednesday, October 30th. Finally, Needham & Company LLC lifted their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus price target of $9.32.

About SoFi Technologies

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.