SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 23.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,732,843 shares of the company's stock after selling 2,304,203 shares during the quarter. SoFi Technologies comprises about 1.3% of Nikko Asset Management Americas Inc.'s investment portfolio, making the stock its 21st biggest position. Nikko Asset Management Americas Inc. owned 0.71% of SoFi Technologies worth $119,008,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of SOFI. Amundi raised its holdings in shares of SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company's stock valued at $39,360,000 after buying an additional 2,700,543 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted 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 purchasing an additional 2,688,847 shares during the last quarter. Quadrature Capital Ltd purchased a new position in SoFi Technologies in the third quarter valued at about $16,014,000. Raymond James Financial Inc. purchased a new stake in SoFi Technologies during the 4th quarter worth approximately $14,479,000. Finally, Zacks Investment Management purchased a new stake in SoFi Technologies during the 3rd quarter worth approximately $3,766,000. Institutional investors and hedge funds own 38.43% of the company's stock.

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Insider Activity

In other news, EVP Kelli Keough sold 8,914 shares of the company's stock in a transaction on 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 sale, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders have sold 27,013 shares of company stock worth $437,402. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Performance

SoFi Technologies stock traded down $0.09 during mid-day trading on Thursday, hitting $12.64. 40,422,708 shares of the company's stock traded hands, compared to its average volume of 44,563,611. The company has a market cap of $13.86 billion, a PE ratio of 34.16, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. 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, Inc. has a one year low of $6.01 and a one year high of $18.42. The firm has a 50 day moving average price of $14.73 and a 200 day moving average price of $12.94.

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 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 firm earned $0.04 earnings per share. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. UBS Group raised their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods restated an "underperform" rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Morgan Stanley lifted their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Finally, Citigroup upped their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $12.50.

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.