Rakuten Securities Inc. Buys New Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Rakuten Securities Inc. bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 88,967 shares of the company’s stock, valued at approximately $1,370,000. SoFi Technologies comprises about 0.5% of Rakuten Securities Inc.’s holdings, making the stock its 28th largest position.

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

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 9,185 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now directly owns 169,626 shares in the company, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 144,004 shares of company stock worth $2,292,100 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $11.26 on Wednesday. The company has a market cap of $12.35 billion, a PE ratio of 30.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a 50-day simple moving average of $15.07 and a 200-day simple moving average of $12.80.

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

Analysts Set New Price Targets

Several research analysts have issued reports on SOFI shares. The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. UBS Group lifted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Needham & Company LLC lifted their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Citigroup lifted their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently 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.