SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Acquired by M&T Bank Corp

M&T Bank Corp increased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,582 shares of the company’s stock after acquiring an additional 2,332 shares during the period. M&T Bank Corp’s holdings in SoFi Technologies were worth $359,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies during the third quarter worth $28,000. Allspring Global Investments Holdings LLC grew its position in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Waldron Private Wealth LLC purchased a new position in SoFi Technologies in the third quarter valued at $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth about $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred 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 sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,012,748 shares of company stock valued at $416,356,356. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on SOFI shares. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Barclays increased their price objective 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. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.50.

SoFi Technologies Trading Down 8.5 %

SOFI opened at $15.24 on Thursday. The firm has a market capitalization of $16.54 billion, a price-to-earnings ratio of 152.42, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company’s 50 day simple moving average is $13.30 and its two-hundred day simple moving average is $9.33. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the business posted ($0.03) earnings per share. Analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.