Mandatum Life Insurance Co Ltd Raises Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Mandatum Life Insurance Co Ltd grew its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 180.9% during the fourth quarter, Holdings Channel reports. The firm owned 38,972 shares of the company’s stock after purchasing an additional 25,100 shares during the period. Mandatum Life Insurance Co Ltd’s holdings in SoFi Technologies were worth $600,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. State Street Corp lifted its stake in SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after acquiring an additional 310,532 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of SoFi Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after acquiring an additional 358,806 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock valued at $86,478,000 after purchasing an additional 9,482,683 shares during the last quarter. Marshall Wace LLP lifted its position in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after purchasing an additional 3,593,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $16.50 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The company has a market cap of $17.90 billion, a PE ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $17.19. The firm’s 50-day simple moving average is $15.32 and its two-hundred day simple moving average is $10.69.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.03) EPS. Research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Eric Schuppenhauer acquired 30,600 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the purchase, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,999,956 shares of company stock valued at $416,793,365 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SOFI has been the subject of several analyst reports. Mizuho increased their price objective on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group increased their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC boosted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Citigroup raised their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Finally, Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $11.71.

SoFi Technologies Company 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.