Free Trial

Mizuho Markets Americas LLC Raises Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

SoFi Technologies logo with Finance background

Key Points

  • Mizuho Markets Americas LLC increased its stake in SoFi Technologies by 9.6%, accumulating approximately $37.08 million in shares following the purchase of 279,855 additional shares in the first quarter.
  • SoFi Technologies reported a 42.8% increase in year-over-year revenue for the quarter and beat earnings expectations by posting $0.08 earnings per share compared to the forecasted $0.06.
  • Institutional investors own 38.43% of SoFi Technologies' stock, indicating significant interest from large financial entities in the company's growth potential.
  • Want stock alerts on SoFi Technologies? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Mizuho Markets Americas LLC grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,187,944 shares of the company's stock after acquiring an additional 279,855 shares during the period. SoFi Technologies comprises 0.8% of Mizuho Markets Americas LLC's portfolio, making the stock its 28th largest position. Mizuho Markets Americas LLC owned 0.29% of SoFi Technologies worth $37,076,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of SOFI. Two Sigma Advisers LP bought a new position in shares of SoFi Technologies during the fourth quarter valued at about $299,980,000. Voloridge Investment Management LLC bought a new position in SoFi Technologies in the fourth quarter worth about $75,139,000. First Trust Advisors LP raised its stake in SoFi Technologies by 583.6% in the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock worth $41,375,000 after buying an additional 2,293,622 shares in the last quarter. Aquatic Capital Management LLC bought a new position in SoFi Technologies in the fourth quarter worth about $26,755,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in SoFi Technologies by 58.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company's stock worth $50,467,000 after buying an additional 1,598,721 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Insider Activity

In other news, EVP Kelli Keough sold 10,267 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $21.80, for a total transaction of $223,820.60. Following the sale, the executive vice president owned 245,200 shares in the company, valued at $5,345,360. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 273,181 shares of company stock worth $4,043,240 over the last 90 days. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Stock Up 0.1%

Shares of NASDAQ:SOFI traded up $0.02 during trading on Friday, reaching $22.10. 49,006,309 shares of the stock traded hands, compared to its average volume of 76,268,488. The stock has a 50-day moving average of $18.45 and a two-hundred day moving average of $15.03. SoFi Technologies, Inc. has a 52-week low of $6.47 and a 52-week high of $25.11. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. The stock has a market cap of $24.43 billion, a P/E ratio of 46.04, a price-to-earnings-growth ratio of 2.74 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.51%. The firm had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. During the same quarter in the prior year, the company posted $0.01 earnings per share. The business's revenue for the quarter was up 42.8% on a year-over-year basis. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the subject of a number of research reports. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 price target for the company. Needham & Company LLC increased 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. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research note on Tuesday. Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Finally, Truist Financial set a $23.00 price target on shares of SoFi Technologies in a research note on Monday, August 4th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $18.29.

View Our Latest Stock Report on SOFI

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.

See Also

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

Should You Invest $1,000 in SoFi Technologies Right Now?

Before you consider SoFi Technologies, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and SoFi Technologies wasn't on the list.

While SoFi Technologies currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Elon Musk's Next Move Cover

Explore Elon Musk’s boldest ventures yet—from AI and autonomy to space colonization—and find out how investors can ride the next wave of innovation.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Buy-the-Dip Stocks Poised to Rebound Soon
Quantum Boom: 3 Strong Picks with Lower Risk
3 Overlooked AI Stocks That Chipmakers Can’t Live Without

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines