SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by CIBC Asset Management Inc

CIBC Asset Management Inc raised its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 29.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,447 shares of the company’s stock after acquiring an additional 6,269 shares during the period. CIBC Asset Management Inc’s holdings in SoFi Technologies were worth $181,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in SoFi Technologies by 24.4% in the fourth quarter. Victory Capital Management Inc. now owns 119,488 shares of the company’s stock worth $1,189,000 after acquiring an additional 23,436 shares in the last quarter. M&T Bank Corp boosted its stake in shares of SoFi Technologies by 56.3% in the 4th quarter. M&T Bank Corp now owns 44,260 shares of the company’s stock valued at $440,000 after purchasing an additional 15,946 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in SoFi Technologies by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock valued at $54,659,000 after purchasing an additional 199,949 shares during the last quarter. Cary Street Partners Investment Advisory LLC bought a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $149,000. Finally, Dimensional Fund Advisors LP bought a new stake in SoFi Technologies during the 4th quarter worth about $38,595,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Down 0.4 %

SOFI stock opened at $7.05 on Wednesday. The stock has a market capitalization of $7.45 billion, a P/E ratio of -22.74, a price-to-earnings-growth ratio of 1.42 and a beta of 1.70. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $7.13 and a 200-day moving average price of $7.18. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. As a group, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. BTIG Research initiated coverage on SoFi Technologies in a research report on Friday, June 7th. They set a “neutral” rating for the company. Barclays dropped their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Finally, Keefe, Bruyette & Woods dropped their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $9.14.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s 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 sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. Insiders sold a total of 19,921,285 shares of company stock worth $135,057,462 over the last three months. 2.60% of the stock is owned by company insiders.

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.