SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 23.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,732,843 shares of the company's stock after selling 2,313,418 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned approximately 0.71% of SoFi Technologies worth $119,086,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors boosted its position in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after purchasing an additional 809 shares during the period. Summit Trail Advisors LLC boosted its position in shares of SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company's stock valued at $2,204,000 after purchasing an additional 855 shares during the period. CIBC Asset Management Inc boosted its position in shares of SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company's stock valued at $223,000 after purchasing an additional 962 shares during the period. Oak Harbor Wealth Partners LLC boosted its position in shares of SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company's stock valued at $86,000 after purchasing an additional 1,000 shares during the period. Finally, Procyon Advisors LLC boosted its position in shares of SoFi Technologies by 8.0% in the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after purchasing an additional 1,000 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares of the company's stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction 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 sale, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock valued at $416,950,073 in the last ninety days. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

Shares of SOFI stock traded down $0.06 during trading hours on Wednesday, reaching $14.77. 33,507,760 shares of the company's stock were exchanged, compared to its average volume of 43,436,063. The company has a market cap of $16.03 billion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company's 50 day moving average is $15.73 and its two-hundred day moving average is $11.77. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share 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 prior year, the company posted $0.04 earnings per share. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.27 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research note on Monday, December 2nd. Finally, UBS Group upped their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average target price of $12.50.

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.