Sumitomo Mitsui Trust Holdings Inc. Boosts Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,457,940 shares of the company’s stock after buying an additional 690,638 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 1.08% of SoFi Technologies worth $75,737,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. CIBC Private Wealth Group LLC increased its position in shares of SoFi Technologies by 2.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock valued at $655,000 after buying an additional 1,498 shares during the period. EP Wealth Advisors LLC increased its holdings in SoFi Technologies by 0.4% during the 4th quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock worth $3,751,000 after acquiring an additional 1,508 shares during the period. SOA Wealth Advisors LLC. lifted its stake in SoFi Technologies by 61.2% in the 1st quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after purchasing an additional 1,713 shares in the last quarter. Kestra Private Wealth Services LLC boosted its holdings in SoFi Technologies by 4.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 45,963 shares of the company’s stock valued at $457,000 after purchasing an additional 1,974 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after purchasing an additional 1,981 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other SoFi Technologies news, CEO Anthony Noto bought 28,900 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,062,269 shares in the company, valued at $55,790,901.48. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Qatar Investment Authority sold 19,840,073 shares of SoFi Technologies stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Trading Up 1.3 %

Shares of SOFI traded up $0.09 during trading hours on Friday, hitting $7.00. The company had a trading volume of 24,474,919 shares, compared to its average volume of 46,315,703. The firm has a market cap of $7.40 billion, a P/E ratio of -22.58, a P/E/G ratio of 1.45 and a beta of 1.70. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $10.49. The stock’s 50 day moving average price is $6.83 and its 200 day moving average price is $7.26. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.06) EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a report on Wednesday, July 31st. Keefe, Bruyette & Woods decreased their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Wedbush reiterated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, BTIG Research assumed coverage on shares of SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $9.20.

About SoFi Technologies

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.