Man Group plc Invests $6.91 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

Man Group plc purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 448,460 shares of the company's stock, valued at approximately $6,906,000.

A number of other institutional investors also recently made changes to their positions in the stock. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the fourth quarter valued at $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies in the fourth quarter valued at $31,000. IAG Wealth Partners LLC acquired a new position in SoFi Technologies in the fourth quarter valued at $38,000. Legacy Investment Solutions LLC increased its stake in SoFi Technologies by 116.3% in the fourth quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock valued at $48,000 after purchasing an additional 1,744 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in SoFi Technologies by 33.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock valued at $68,000 after purchasing an additional 1,100 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares of the company's stock, valued at approximately $2,617,329.18. This represents a 5.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. This represents a 9.48% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,172 shares of company stock valued at $1,271,115. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

SOFI has been the subject of several analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. The Goldman Sachs Group upped their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Finally, Citizens Jmp initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $14.38.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $13.73 on Tuesday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The business has a 50-day moving average of $12.11 and a 200-day moving average of $13.99. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market capitalization of $15.18 billion, a price-to-earnings ratio of 37.11, a PEG ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The company's revenue was up 32.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.02 earnings per share. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.

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