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Mitsubishi UFJ Asset Management Co. Ltd. Has $50.47 Million Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

SoFi Technologies logo with Finance background

Key Points

  • Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in SoFi Technologies by 58.3%, owning 4,339,349 shares valued at approximately $50.5 million.
  • Vanguard Group Inc. also raised its holdings in SoFi Technologies by 1.1%, now owning over 99 million shares valued at about $1.16 billion.
  • SoFi reported a 42.8% year-over-year revenue growth, generating $519.37 million in the last quarter, surpassing analyst expectations for earnings per share.
  • Want stock alerts on SoFi Technologies? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 58.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,339,349 shares of the company's stock after buying an additional 1,598,721 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.40% of SoFi Technologies worth $50,467,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Two Sigma Advisers LP bought a new stake in SoFi Technologies during the 4th quarter worth about $299,980,000. Voloridge Investment Management LLC acquired a new position in shares of SoFi Technologies during the fourth quarter worth approximately $75,139,000. First Trust Advisors LP grew its stake in shares of SoFi Technologies by 583.6% during the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock valued at $41,375,000 after purchasing an additional 2,293,622 shares during the last quarter. Aquatic Capital Management LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $26,755,000. Finally, Vanguard Group Inc. raised its position in SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the business's 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 sale, 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the sale, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 273,181 shares of company stock valued at $4,043,240 over the last quarter. Corporate insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SOFI. The Goldman Sachs Group initiated coverage on SoFi Technologies in a research note on Monday, July 14th. They issued a "neutral" rating and a $19.00 target price for the company. TD Cowen started coverage on SoFi Technologies in a research report on Friday, July 11th. They issued a "hold" rating and a $21.00 price objective for the company. Mizuho set a $26.00 target price on shares of SoFi Technologies and gave the company an "outperform" rating in a research report on Thursday, July 31st. JMP Securities reiterated a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. Finally, Needham & Company LLC boosted their price target on shares of SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $18.29.

Get Our Latest Report on SoFi Technologies

SoFi Technologies Trading Up 0.1%

NASDAQ:SOFI traded up $0.02 on Friday, reaching $22.10. The company's stock had a trading volume of 49,006,309 shares, compared to its average volume of 74,107,504. SoFi Technologies, Inc. has a 1-year low of $6.47 and a 1-year high of $25.11. The business's 50-day moving average price is $18.45 and its two-hundred day moving average price is $15.01. The firm has a market cap of $24.43 billion, a PE ratio of 46.04, a PEG ratio of 2.74 and a beta of 1.93. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The business had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same period in the previous year, the firm earned $0.01 EPS. SoFi Technologies's quarterly revenue was up 42.8% compared to the same quarter last year. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

(Free Report)

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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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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