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

Mizuho Markets Americas LLC lessened its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 3.4% during the third quarter, according to the company in its most recent disclosure with the SEC. 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 quarter.

Several other large investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new position in SoFi Technologies during the 3rd quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its position in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. GAMMA Investing LLC boosted its holdings in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in SoFi Technologies in the 3rd quarter worth approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies during the 3rd quarter valued at $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Up 1.7 %

SOFI opened at $13.63 on Friday. The stock has a market capitalization of $14.53 billion, a P/E ratio of 136.30, a price-to-earnings-growth ratio of 2.25 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $14.44. The business’s 50-day simple moving average is $9.70 and its 200-day simple moving average is $7.93.

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

Wall Street Analyst Weigh In

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

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by corporate insiders.

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.