Bank of New York Mellon Corp Increases Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Bank of New York Mellon Corp grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 0.3% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,223,370 shares of the company’s stock after acquiring an additional 8,218 shares during the quarter. Bank of New York Mellon Corp owned about 0.30% of SoFi Technologies worth $49,640,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Captrust Financial Advisors boosted its position in shares of SoFi Technologies by 2.8% during the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after acquiring an additional 809 shares during the last quarter. Summit Trail Advisors LLC boosted its position in shares of SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after acquiring an additional 855 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after acquiring an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its position in shares of SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Procyon Advisors LLC boosted its position in shares of SoFi Technologies by 8.0% during the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company’s stock valued at $208,000 after acquiring an additional 1,000 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $13.43 on Thursday. The firm has a market cap of $14.73 billion, a P/E ratio of 36.30, a P/E/G ratio of 2.24 and a beta of 1.77. 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, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The stock’s fifty day moving average price is $15.39 and its 200-day moving average price is $12.63.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter last year, the company earned $0.04 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now owns 25,937 shares in the company, valued at $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of the business’s stock in a transaction on Monday, December 16th. The stock was bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 144,004 shares of company stock worth $2,292,100. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the subject of a number of research reports. UBS Group increased their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group raised their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Bank of America restated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.50.

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.