The Manufacturers Life Insurance Company Sells 48,238 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

The Manufacturers Life Insurance Company lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 18.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 219,718 shares of the company's stock after selling 48,238 shares during the quarter. The Manufacturers Life Insurance Company's holdings in SoFi Technologies were worth $3,384,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies in the 4th quarter worth about $31,000. FNY Investment Advisers LLC increased its position in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after purchasing an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC bought a new position in shares of SoFi Technologies during the 4th quarter valued at $38,000. Finally, Legacy Investment Solutions LLC increased its holdings in shares of SoFi Technologies by 116.3% during the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock valued at $48,000 after acquiring an additional 1,744 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares in the company, valued at approximately $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 100,172 shares of company stock valued at $1,271,115 over the last three months. Company insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SOFI shares. The Goldman Sachs Group increased their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Citizens Jmp initiated coverage on SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price for the company. JMP Securities initiated coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target for the company. Needham & Company LLC reiterated a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $14.38.

SoFi Technologies Trading Up 1.8%

NASDAQ:SOFI traded up $0.25 on Tuesday, reaching $14.29. The company's stock had a trading volume of 27,159,424 shares, compared to its average volume of 47,124,881. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market cap of $15.67 billion, a PE ratio of 38.62, a PEG ratio of 2.24 and a beta of 1.84. The business's 50-day moving average price is $11.91 and its two-hundred day moving average price is $13.89.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results 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 firm 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 company's revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

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.