SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 18.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,718 shares of the company's stock after selling 48,238 shares during the period. 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 hedge funds also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies in the fourth quarter worth about $27,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at $31,000. FNY Investment Advisers LLC boosted its stake in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after purchasing an additional 1,905 shares during the period. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies during the fourth quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC raised its holdings in shares of SoFi Technologies by 116.3% in the fourth 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 in the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock traded down $0.08 on Friday, reaching $13.18. 53,113,102 shares of the stock were exchanged, compared to its average volume of 47,081,362. The business has a fifty day moving average price of $11.89 and a two-hundred day moving average price of $13.85. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The firm has a market capitalization of $14.45 billion, a PE ratio of 35.62, a PEG ratio of 2.24 and a beta of 1.84. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

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

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction that occurred on Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the sale, the executive vice president now directly owns 215,029 shares of the company's stock, valued at approximately $2,302,960.59. This trade represents a 4.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,172 shares of company stock valued at $1,271,115. Company insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Needham & Company LLC restated a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a report on Wednesday, April 30th. The Goldman Sachs Group lifted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Barclays raised their price target 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. JMP Securities assumed coverage on shares of SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective on the stock. Finally, Citizens Jmp began coverage on SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $14.38.

SoFi Technologies 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.