MFG Wealth Management Inc. Takes Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

MFG Wealth Management Inc. purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 122,390 shares of the company’s stock, valued at approximately $1,885,000. SoFi Technologies comprises about 1.7% of MFG Wealth Management Inc.’s holdings, making the stock its 29th largest holding.

Several other large investors have also bought and sold shares of the business. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in SoFi Technologies by 214.9% during the third 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 last quarter. Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies in the 3rd quarter valued at approximately $16,014,000. Zacks Investment Management bought a new position in SoFi Technologies during the 3rd quarter worth approximately $3,766,000. Point72 DIFC Ltd acquired a new position in SoFi Technologies during the third quarter valued at approximately $3,219,000. Finally, Rockefeller Capital Management L.P. increased its stake in SoFi Technologies by 20.6% in 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 in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SOFI has been the topic of a number of recent analyst reports. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Needham & Company LLC lifted their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Finally, Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Eric Schuppenhauer purchased 30,600 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. This trade represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 0.4 %

SOFI stock opened at $14.77 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business’s fifty day moving average price is $15.70 and its two-hundred day moving average price is $11.80. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The stock has a market capitalization of $16.03 billion, a price-to-earnings ratio of 39.92, a PEG ratio of 2.04 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned $0.04 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.27 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.