Resona Asset Management Co. Ltd. Takes Position in SoFi Technologies, Inc. $SOFI

Resona Asset Management Co. Ltd. acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 334,339 shares of the company’s stock, valued at approximately $8,883,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SOFI. Salomon & Ludwin LLC bought a new position in shares of SoFi Technologies in the third quarter worth approximately $29,000. SJS Investment Consulting Inc. lifted its stake in shares of SoFi Technologies by 840.3% during the 3rd quarter. SJS Investment Consulting Inc. now owns 1,119 shares of the company’s stock valued at $30,000 after buying an additional 1,000 shares in the last quarter. ORG Partners LLC boosted its holdings in SoFi Technologies by 230.6% in the 3rd quarter. ORG Partners LLC now owns 1,438 shares of the company’s stock worth $38,000 after buying an additional 1,003 shares during the period. Bartlett & CO. Wealth Management LLC raised its holdings in SoFi Technologies by 46.9% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company’s stock valued at $39,000 after acquiring an additional 469 shares during the period. Finally, Bfsg LLC lifted its position in shares of SoFi Technologies by 200.0% in the third quarter. Bfsg LLC now owns 1,500 shares of the company’s stock valued at $40,000 after acquiring an additional 1,000 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Insider Activity

In other news, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the sale, the insider owned 138,396 shares in the company, valued at approximately $3,426,684.96. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,468 shares of SoFi Technologies stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $25.75, for a total transaction of $243,801.00. Following the transaction, the executive vice president directly owned 303,480 shares of the company’s stock, valued at approximately $7,814,610. This represents a 3.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 167,245 shares of company stock valued at $4,362,815 in the last ninety days. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of several recent analyst reports. Barclays lifted their target price on SoFi Technologies from $23.00 to $28.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 6th. BTIG Research reaffirmed a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Citigroup lifted their price objective on shares of SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. UBS Group upped their target price on shares of SoFi Technologies from $20.50 to $27.50 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $35.00 price target on shares of SoFi Technologies in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $25.50.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $25.80 on Tuesday. The company’s 50-day moving average price is $27.07 and its 200-day moving average price is $26.26. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The company has a market cap of $31.11 billion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 1.62 and a beta of 1.92. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month 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 company had revenue of $949.63 million during the quarter, compared to analyst estimates of $880.33 million. During the same quarter last year, the business posted $0.05 earnings per share. The firm’s revenue was up 37.7% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS 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.