Mitsubishi UFJ Asset Management Co. Ltd. Grows Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 2,173.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 347,405 shares of the company's stock after purchasing an additional 332,124 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in SoFi Technologies were worth $3,457,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SOFI. Vanguard Group Inc. raised its position in shares of SoFi Technologies by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company's stock valued at $610,458,000 after buying an additional 2,567,797 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of SoFi Technologies by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company's stock valued at $54,659,000 after buying an additional 199,949 shares in the last quarter. Northern Trust Corp raised its position in shares of SoFi Technologies by 15.4% in the 3rd quarter. Northern Trust Corp now owns 4,371,786 shares of the company's stock valued at $34,931,000 after buying an additional 584,335 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of SoFi Technologies by 241.4% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 3,896,692 shares of the company's stock valued at $38,772,000 after buying an additional 2,755,197 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of SoFi Technologies in the 4th quarter valued at approximately $38,595,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Stock Down 1.5 %

NASDAQ:SOFI traded down $0.11 during trading hours on Tuesday, reaching $7.08. The company had a trading volume of 24,337,863 shares, compared to its average volume of 52,158,496. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. The firm has a market cap of $7.49 billion, a price-to-earnings ratio of -22.84 and a beta of 1.75. The business's 50-day simple moving average is $7.26 and its two-hundred day simple moving average is $7.83. SoFi Technologies, Inc. has a twelve month low of $4.92 and a twelve month high of $11.70.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Monday, April 29th. The company reported $0.02 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.01. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The business had revenue of $580.60 million during the quarter, compared to analysts' expectations of $555.27 million. During the same period last year, the company posted ($0.05) earnings per share. The business's quarterly revenue was up 26.2% on a year-over-year basis. On average, equities analysts expect that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company's stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the firm's stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company's stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Anthony Noto purchased 28,775 shares of the company's stock in a transaction that occurred on Friday, May 3rd. The shares were purchased at an average cost of $6.90 per share, for a total transaction of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares of the company's stock, valued at $55,430,246.10. The disclosure for this purchase can be found here. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research reports. Wedbush reissued an "underperform" rating and issued a $3.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Needham & Company LLC reissued a "buy" rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Tuesday, April 30th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a "hold" rating for the company in a research note on Tuesday, April 30th. Jefferies Financial Group dropped their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a "buy" rating for the company in a research note on Tuesday, March 26th. Finally, The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a "neutral" rating in a research note on Tuesday, January 30th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $9.08.

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.