SoFi Technologies, Inc. (NASDAQ: SOFI) Holdings diminished by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.


Mitsubishi UFJ Kokusai Asset Management Co. Ltd. reduced its position in shares of SoFi Technologies, Inc. (NASDAQ: SOFIGet a rating) by 1.8% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission (SEC). The fund held 133,941 shares of the company after selling 2,400 shares during the quarter. The holdings of Mitsubishi UFJ Kokusai Asset Management Co. Ltd. in SoFi Technologies were worth $1,266,000 at the end of the last reporting period.

Other large investors have also recently increased or reduced their stake in the company. WASHINGTON TRUST Co acquired a new position in SoFi Technologies stock in Q1 worth approximately $26,000. Wealth Advisors SOA LLC. increased its equity holdings in SoFi Technologies by 113.3% in the first quarter. Wealth Advisors SOA LLC. now owns 3,200 shares of the company valued at $30,000 after purchasing an additional 1,700 shares in the last quarter. Nvwm LLC increased its position in SoFi Technologies shares by 116.4% during the 4th quarter. Nvwm LLC now owns 3,322 shares of the company worth $53,000 after purchasing an additional 1,787 shares during the period. Benjamin F. Edwards & Company Inc. increased its equity stake in SoFi Technologies by 125.0% in Q1. Benjamin F. Edwards & Company Inc. now owns 3,375 shares of the company worth $32,000 after purchasing an additional 1,875 shares in the last quarter. Finally, Pacer Advisors Inc. acquired a new position in SoFi Technologies during Q4 worth approximately $67,000. 56.45% of the shares are currently held by institutional investors.

A Wall Street analyst gives his opinion

SOFI has been the subject of a number of recent research reports. Piper Sandler cut its price target on SoFi Technologies from $10.00 to $8.00 and set an “overweight” rating on the stock in a Wednesday, June 29 research note. Citigroup lowered its price target on SoFi Technologies shares from $17.00 to $11.00 in a Thursday, May 12 research note. Mizuho raised its price target on SoFi Technologies shares from $7.00 to $8.00 and gave the company a “buy” rating in a Wednesday, Aug. 3 research note. Credit Suisse Group raised its price target on SoFi Technologies from $8.00 to $8.50 and gave the stock a “neutral” rating in a Wednesday, August 3 research report. Finally, Bank of America lowered its target price on SoFi Technologies from $12.00 to $7.00 in a Tuesday, May 10 research report. Five research analysts gave the stock a hold rating and eight gave the stock a buy rating. According to data from MarketBeat.com, the stock currently has a consensus rating of “moderate buy” and an average target price of $13.73.

Insider activity

Separately, major shareholder Group Corp Softbank sold 6,683,133 shares of the company in a transaction on Monday, August 8. The stock was sold at an average price of $8.17, for a total transaction of $54,601,196.61. Following the transaction, the insider now directly owns 83,216,977 shares of the company, valued at $679,882,702.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. In related news, EVP Michelle Gil sold 50,000 shares of the company in a transaction that took place on Tuesday, June 14. The shares were sold at an average price of $5.48, for a total transaction of $274,000.00. Following the transaction, the executive vice president now owns 1,831,223 shares of the company, valued at $10,035,102.04. The sale was disclosed in a legal filing with the SEC, which is available via this hyperlink. Additionally, major shareholder Group Corp Softbank sold 6,683,133 shares of the company in a transaction that took place on Monday, August 8. The stock was sold at an average price of $8.17, for a total transaction of $54,601,196.61. Following the completion of the sale, the insider now directly owns 83,216,977 shares of the company, valued at $679,882,702.09. Disclosure of this sale can be found here. During the last quarter, insiders acquired 242,753 shares of the company worth $1,464,211 and sold 12,114,918 shares worth $97,875,659. Company insiders own 13.00% of the company’s shares.

SoFi Technologies Price Performance

Shares of NASDAQ: SOFI opened at $7.65 on Monday. The company has a debt ratio of 0.72, a quick ratio of 5.60 and a current ratio of 2.83. The company has a market capitalization of $7.01 billion, a PE ratio of -16.63 and a beta of 1.53. The stock has a fifty-day moving average of $6.36 and a 200-day moving average of $7.99. SoFi Technologies, Inc. has a 1-year low of $4.82 and a 1-year high of $24.65.

Sofi Technologies (NASDAQ: SOFIGet a rating) last announced its results on Tuesday, August 2. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). SoFi Technologies posted a negative net margin of 27.19% and a negative return on equity of 7.30%. The company posted revenue of $362.53 million in the quarter, compared to $346.39 million expected by analysts. As a group, stock analysts expect SoFi Technologies, Inc. to post -0.45 EPS for the current fiscal year.

Profile SoFi Technologies

(Get a rating)

SoFi Technologies, Inc provides digital financial services. It operates through three segments: lending, technology platform and financial services. The society’s lending and financial services and products allow its members to borrow, save, spend, invest and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

Further reading

Institutional ownership by quarter for SoFi Technologies (NASDAQ:SOFI)



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