Mizuho Markets Cayman LP Purchases Shares of 2,500,000 SoFi Technologies, Inc. $SOFI

Key Points

• Mizuho Markets Cayman LP purchased 2,500,000 shares of SoFi Technologies, totaling approximately $45.5 million, making it the 9th largest holding in their portfolio.
• Several analysts have adjusted their ratings on SoFi Technologies, with Barclays raising its price target from $18.00 to $21.00, while others have given mixed ratings from "strong-buy" to "sell."
• SoFi Technologies reported a 42.8% increase in quarterly revenue year-over-year, with an earnings per share of $0.08, exceeding consensus estimates.

Mizuho Markets Cayman LP purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 2,500,000 shares of the company's stock, valued at approximately $45,525,000. SoFi Technologies makes up about 3.3% of Mizuho Markets Cayman LP's portfolio, making the stock its 9th largest holding. Mizuho Markets Cayman LP owned approximately 0.23% of SoFi Technologies at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after acquiring an additional 1,130,250 shares in the last quarter. Sullivan Wood Capital Management LLC bought a new position in shares of SoFi Technologies during the 2nd quarter valued at about $2,799,000. Blair William & Co. IL increased its position in shares of SoFi Technologies by 443.9% during the 2nd quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock valued at $6,113,000 after purchasing an additional 273,972 shares during the last quarter. CMG Global Holdings LLC increased its position in shares of SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after purchasing an additional 61,443 shares during the last quarter. Finally, Nicholas Wealth LLC. bought a new position in shares of SoFi Technologies during the 1st quarter valued at about $993,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SOFI shares. Barclays increased their price objective on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. Weiss Ratings restated a "hold (c)" rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. JMP Securities restated 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, Keefe, Bruyette & Woods raised their price target on SoFi Technologies from $14.00 to $18.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 15th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus price target of $21.18.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $30.00 on Tuesday. The firm has a market cap of $35.92 billion, a P/E ratio of 62.50, a P/E/G ratio of 3.42 and a beta of 1.92. SoFi Technologies, Inc. has a fifty-two week low of $8.60 and a fifty-two week high of $30.30. The business's 50 day moving average price is $26.74 and its 200-day moving average price is $20.05. The company has a debt-to-equity ratio of 0.57, 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 for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business's quarterly revenue was up 42.8% compared to the same quarter last year. During the same period last year, the company earned $0.01 EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the transaction, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the transaction, the executive vice president owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,383 shares of company stock valued at $3,513,171. 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.

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