SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Holdings Lessened by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 12.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,046,261 shares of the company’s stock after selling 1,411,679 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.94% of SoFi Technologies worth $78,964,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Consolidated Investment Group LLC increased its holdings in shares of SoFi Technologies by 119.0% in the third quarter. Consolidated Investment Group LLC now owns 138,000 shares of the company’s stock valued at $1,085,000 after buying an additional 75,000 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares in the last quarter. SpiderRock Advisors LLC grew its position in SoFi Technologies by 98.2% during the 3rd quarter. SpiderRock Advisors LLC now owns 251,246 shares of the company’s stock worth $1,975,000 after purchasing an additional 124,500 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in SoFi Technologies by 64.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after purchasing an additional 115,316 shares in the last quarter. Finally, Mark Asset Management LP grew its position in SoFi Technologies by 79.9% during the 2nd quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after purchasing an additional 151,265 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SOFI shares. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” 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 company a “buy” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Trading Down 0.7 %

Shares of NASDAQ:SOFI opened at $13.40 on Friday. The stock has a market capitalization of $14.28 billion, a PE ratio of 134.01, a P/E/G ratio of 2.30 and a beta of 1.60. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $14.44. The firm has a fifty day moving average price of $9.57 and a 200 day moving average price of $7.89. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. SoFi Technologies’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 expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 in the last quarter. Insiders own 2.60% of the company’s stock.

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.