SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 70,401 shares of the company’s stock after acquiring an additional 4,661 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in SoFi Technologies were worth $465,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SOFI. Dimensional Fund Advisors LP raised its stake in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares during the last quarter. Nikko Asset Management Americas Inc. raised its stake in SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock valued at $78,494,000 after purchasing an additional 6,870,610 shares during the last quarter. Vanguard Group Inc. raised its stake in SoFi Technologies by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after purchasing an additional 5,057,233 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new position in SoFi Technologies in the 4th quarter valued at about $24,571,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Up 2.4 %

NASDAQ SOFI opened at $7.95 on Friday. The stock has a market cap of $8.40 billion, a PE ratio of -25.65, a P/E/G ratio of 1.60 and a beta of 1.70. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $10.49. The business has a 50 day moving average price of $7.37 and a two-hundred day moving average price of $7.16. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. SoFi Technologies’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SOFI. Barclays cut their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. BTIG Research assumed coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Finally, Keefe, Bruyette & Woods dropped their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $9.14.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related 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 transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. The disclosure for this sale can be found here. Insiders sold a total of 102,328 shares of company stock worth $808,246 in the last 90 days. 2.60% of the stock is owned by company insiders.

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.