SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by MML Investors Services LLC

MML Investors Services LLC raised its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 15.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,489,932 shares of the company's stock after purchasing an additional 195,236 shares during the quarter. MML Investors Services LLC owned 0.14% of SoFi Technologies worth $11,711,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in shares of SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Citizens Financial Group Inc. RI boosted its holdings in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after buying an additional 70,603 shares in the last quarter. Zacks Investment Management acquired a new position in SoFi Technologies during the third quarter worth about $3,766,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after buying an additional 2,688,847 shares in the last quarter. Finally, Qsemble Capital Management LP acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at approximately $930,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Buying and Selling

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company's stock, valued at $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,960,748 shares of company stock valued at $415,523,316. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Trading Up 4.3 %

Shares of SOFI stock traded up $0.65 during trading hours on Wednesday, hitting $15.94. 47,456,695 shares of the company were exchanged, compared to its average volume of 47,604,297. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $16.61. The firm has a fifty day moving average of $12.35 and a 200 day moving average of $8.96. The firm has a market cap of $17.30 billion, a PE ratio of 153.70, a PEG ratio of 2.66 and a beta of 1.77. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SOFI shares. Barclays lifted their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Needham & Company LLC lifted their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. Citigroup cut shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group increased their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of "Hold" and an average price target of $10.50.

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.