Rakuten Securities Inc. Grows Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Rakuten Securities Inc. grew its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 66.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 148,461 shares of the company's stock after buying an additional 59,494 shares during the quarter. SoFi Technologies accounts for 0.9% of Rakuten Securities Inc.'s portfolio, making the stock its 27th largest position. Rakuten Securities Inc.'s holdings in SoFi Technologies were worth $1,727,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SoFi Technologies in the fourth quarter valued at $27,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $32,000. IAG Wealth Partners LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter worth about $38,000. Finally, Elequin Capital LP increased its holdings in shares of SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after acquiring an additional 631 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SOFI has been the topic of several research analyst reports. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Barclays raised their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research report on Wednesday, April 30th. UBS Group raised their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 target price on shares of SoFi Technologies in a report on Wednesday, April 30th. Finally, Truist Financial initiated coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $14.73.

Insider Activity at SoFi Technologies

In other SoFi Technologies 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 transaction of $1,253,944.60. Following the completion of the sale, the director now directly owns 289,258 shares of the company's stock, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now directly owns 226,210 shares of the company's stock, valued at $2,877,391.20. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 276,787 shares of company stock valued at $3,753,076 over the last ninety days. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Up 5.7%

SOFI opened at $14.90 on Tuesday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. 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 firm's fifty day moving average price is $12.90 and its two-hundred day moving average price is $13.95. The company has a market capitalization of $16.47 billion, a P/E ratio of 40.27, a P/E/G ratio of 2.24 and a beta of 1.82.

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

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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