SBI Securities Co. Ltd. Makes New $3.70 Million Investment in SoFi Technologies, Inc. (NASDAQ:SOFI)

SBI Securities Co. Ltd. bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 240,445 shares of the company's stock, valued at approximately $3,703,000.

Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. increased its holdings in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock worth $30,971,000 after buying an additional 2,688,847 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at $16,014,000. Zacks Investment Management acquired a new stake in shares of SoFi Technologies in the third quarter worth $3,766,000. Point72 DIFC Ltd purchased a new position in shares of SoFi Technologies during the third quarter worth $3,219,000. Finally, Rockefeller Capital Management L.P. lifted its position in SoFi Technologies by 20.6% during the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company's stock valued at $17,365,000 after purchasing an additional 376,899 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the sale, the chief technology officer now owns 586,494 shares of the company's stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Bashir Ruzwana sold 52,000 shares of the firm's stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the sale, the director now owns 25,937 shares of the company's stock, valued at $415,510.74. This represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,004 shares of company stock worth $2,292,100. Insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Bank of America restated an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. UBS Group lifted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. 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 equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and a consensus target price of $12.50.

SoFi Technologies Price Performance

Shares of SOFI stock traded up $0.34 during trading hours on Wednesday, reaching $13.43. The company had a trading volume of 40,942,837 shares, compared to its average volume of 46,105,410. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The company has a market capitalization of $14.73 billion, a price-to-earnings ratio of 36.30, a PEG ratio of 2.24 and a beta of 1.77. The stock has a fifty day moving average of $15.44 and a 200-day moving average of $12.63.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the company posted $0.04 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.