The Manufacturers Life Insurance Company Boosts Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

The Manufacturers Life Insurance Company boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 12.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 263,826 shares of the company’s stock after purchasing an additional 30,206 shares during the period. The Manufacturers Life Insurance Company’s holdings in SoFi Technologies were worth $1,744,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Dimensional Fund Advisors LP raised its stake in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after buying an additional 9,482,683 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of SoFi Technologies by 176.3% during 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 period. Nikko Asset Management Americas Inc. raised its stake in shares of SoFi Technologies by 176.3% during 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 period. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 6.6% during 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 period. Finally, Marshall Wace LLP raised its stake in shares of SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the company’s 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 owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 102,328 shares of company stock valued at $808,246 in the last 90 days. Insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Up 0.5 %

Shares of SOFI stock opened at $8.63 on Friday. The stock has a market capitalization of $9.12 billion, a PE ratio of -27.84, a P/E/G ratio of 1.60 and a beta of 1.70. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $10.49. The business has a 50-day moving average of $7.51 and a 200 day moving average of $7.22. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company 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 period in the prior year, the business posted ($0.06) EPS. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research note on Tuesday, July 9th. Barclays decreased their target price 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, Needham & Company LLC restated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.08.

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.