Mitsubishi UFJ Trust & Banking Corp Makes New Investment in SoFi Technologies, Inc. $SOFI

Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 447,143 shares of the company’s stock, valued at approximately $11,814,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in SOFI. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in SoFi Technologies by 12.5% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company’s stock valued at $88,864,000 after purchasing an additional 540,610 shares during the period. Sullivan Wood Capital Management LLC acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at $2,799,000. Blair William & Co. IL grew its stake in shares of SoFi Technologies by 443.9% during the 2nd quarter. Blair William & Co. IL now owns 335,698 shares of the company’s stock valued at $6,113,000 after buying an additional 273,972 shares during the period. Vestmark Advisory Solutions Inc. acquired a new stake in shares of SoFi Technologies during the 2nd quarter worth $209,000. Finally, Quantbot Technologies LP purchased a new position in shares of SoFi Technologies in the 2nd quarter worth $25,699,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Activity

In related news, EVP Kelli Keough sold 9,468 shares of SoFi Technologies stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $25.75, for a total transaction of $243,801.00. Following the sale, the executive vice president owned 303,480 shares of the company’s stock, valued at $7,814,610. The trade was a 3.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the transaction, the insider owned 138,396 shares in the company, valued at $3,426,684.96. This represents a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 167,245 shares of company stock worth $4,362,815 over the last 90 days. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Bank of America started coverage on SoFi Technologies in a research report on Tuesday, January 6th. They set an “underperform” rating and a $20.50 price target for the company. Needham & Company LLC lifted their price objective on SoFi Technologies from $29.00 to $36.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Jefferies Financial Group reissued a “buy” rating and set a $35.00 target price on shares of SoFi Technologies in a research report on Tuesday, October 28th. Barclays raised their price target on shares of SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a report on Tuesday, January 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and a consensus target price of $25.50.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $25.46 on Wednesday. The business’s 50-day simple moving average is $27.05 and its 200 day simple moving average is $26.29. The company has a market cap of $30.70 billion, a P/E ratio of 47.15, a PEG ratio of 1.62 and a beta of 1.92. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80. SoFi Technologies, Inc. has a one year low of $8.60 and a one year high of $32.73.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The firm had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. During the same period in the previous year, the company posted $0.05 EPS. SoFi Technologies’s revenue for the quarter was up 37.7% on a year-over-year basis. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.