Mirae Asset Global Investments Co. Ltd. Has $478,000 Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Mirae Asset Global Investments Co. Ltd. grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1,085.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,124 shares of the company's stock after buying an additional 37,655 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in SoFi Technologies were worth $478,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Elequin Capital LP increased its stake in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after purchasing an additional 631 shares during the period. CIBC Private Wealth Group LLC increased its stake in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after purchasing an additional 685 shares during the period. Bank of New Hampshire increased its stake in shares of SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after purchasing an additional 1,000 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of SoFi Technologies by 33.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock worth $68,000 after purchasing an additional 1,100 shares during the period. Finally, Compass Capital Corp MA ADV increased its stake in shares of SoFi Technologies by 12.6% during the first quarter. Compass Capital Corp MA ADV now owns 11,260 shares of the company's stock worth $131,000 after purchasing an additional 1,260 shares during the period. Institutional investors own 38.43% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on SOFI shares. JMP Securities started coverage on SoFi Technologies in a research note on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Barclays raised their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. Truist Financial started coverage on SoFi Technologies in a research note on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective on the stock. Finally, Citizens Jmp started coverage on SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $14.73.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.65 during mid-day trading on Tuesday, hitting $19.89. 71,838,343 shares of the stock traded hands, compared to its average volume of 52,574,688. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $20.87. The company has a market cap of $21.99 billion, a PE ratio of 48.51, a price-to-earnings-growth ratio of 3.15 and a beta of 1.91. The firm has a 50 day simple moving average of $14.52 and a two-hundred day simple moving average of $14.05.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The company had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same quarter last year, the business posted $0.02 EPS. SoFi Technologies's revenue for the quarter was up 32.7% on a year-over-year basis. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 11,520 shares of SoFi Technologies stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the transaction, the executive vice president directly owned 203,509 shares of the company's stock, valued at approximately $2,722,950.42. The trade was a 5.36% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director directly owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,095 shares of company stock valued at $3,939,168. 2.60% of the stock is currently owned by company insiders.

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.