447,143 Shares in SoFi Technologies, Inc. $SOFI Purchased by Mitsubishi UFJ Trust & Banking Corp

Key Points

• Mitsubishi UFJ Trust & Banking acquired a new stake of 447,143 shares in SoFi Technologies in Q3, valued at about $11.8 million according to the firm's latest 13F filing.
• Company insiders sold a total of 167,245 shares worth roughly $4.36 million over the last quarter, including sales by EVP Kelli Keough and CTO Jeremy Rishel that reduced their ownership stakes.
• Analyst views are mixed: the consensus rating is "Hold" with an average target of $25.50, though some firms raised targets (Citigroup to $37, Needham to $36) while Bank of America initiated coverage at "underperform" with a $20.50 target.

Mitsubishi UFJ Trust & Banking Corp acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 447,143 shares of the company's stock, valued at approximately $11,814,000.

A number of other institutional investors also recently added to or reduced their stakes in the business. UniSuper Management Pty Ltd acquired a new position in shares of SoFi Technologies during the 3rd quarter worth $502,000. iA Global Asset Management Inc. purchased a new stake in SoFi Technologies during the third quarter worth about $2,206,000. Strs Ohio boosted its holdings in SoFi Technologies by 344.2% during the third quarter. Strs Ohio now owns 380,082 shares of the company's stock worth $10,042,000 after buying an additional 294,512 shares in the last quarter. Emerald Mutual Fund Advisers Trust acquired a new position in SoFi Technologies during the third quarter worth about $592,000. Finally, Covenant Asset Management LLC purchased a new position in SoFi Technologies in the third quarter valued at about $2,159,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,468 shares of the firm's stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $25.75, for a total transaction of $243,801.00. Following the sale, the executive vice president directly owned 303,480 shares of the company's stock, valued at $7,814,610. This trade represents a 3.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 91,837 shares of SoFi Technologies stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the sale, the chief technology officer owned 794,598 shares of the company's stock, valued at approximately $21,168,090.72. This trade represents a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 167,245 shares of company stock valued at $4,362,815 over the last quarter. Insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on SOFI. Citigroup lifted their price target on shares of SoFi Technologies from $28.00 to $37.00 and gave the company a "buy" rating in a research report on Wednesday, October 29th. Needham & Company LLC raised their price objective on SoFi Technologies from $29.00 to $36.00 and gave the company a "buy" rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. boosted their target price on SoFi Technologies from $24.00 to $26.00 and gave the stock a "neutral" rating in a research report on Friday, October 24th. Keefe, Bruyette & Woods upped their target price on SoFi Technologies from $18.00 to $20.00 and gave the company an "underperform" rating in a report on Wednesday, October 29th. Finally, Bank of America initiated coverage on SoFi Technologies in a research report on Tuesday, January 6th. They issued an "underperform" rating and a $20.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $25.50.

SoFi Technologies Price Performance

SOFI stock opened at $25.46 on Wednesday. The stock's 50 day moving average price is $27.05 and its 200 day moving average price is $26.29. The firm has a market cap of $30.70 billion, a P/E ratio of 47.15, a PEG ratio of 1.62 and a beta of 1.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company had revenue of $949.63 million during the quarter, compared to analysts' expectations of $880.33 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The business's revenue for the quarter was up 37.7% compared to the same quarter last year. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

SoFi Technologies Profile

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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