Nikko Asset Management Americas Inc. Has $119.01 Million Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Nikko Asset Management Americas Inc. decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 23.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,732,843 shares of the company’s stock after selling 2,304,203 shares during the period. SoFi Technologies comprises approximately 1.3% of Nikko Asset Management Americas Inc.’s investment portfolio, making the stock its 21st biggest holding. Nikko Asset Management Americas Inc. owned approximately 0.71% of SoFi Technologies worth $119,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies in the fourth quarter valued at approximately $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies during the fourth quarter worth approximately $31,000. FNY Investment Advisers LLC increased its stake in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares during the period. IAG Wealth Partners LLC bought a new position in shares of SoFi Technologies during the fourth quarter worth approximately $38,000. Finally, Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the third quarter worth approximately $28,000. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on SOFI shares. Citigroup increased their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC raised their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Finally, UBS Group raised their price objective on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Up 6.1 %

Shares of SOFI stock opened at $12.09 on Monday. The stock’s fifty day moving average price is $14.89 and its two-hundred day moving average price is $12.89. The company has a market cap of $13.26 billion, a PE ratio of 32.68, a P/E/G ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share 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 in the prior year, the business posted $0.04 EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the sale, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 92,004 shares of company stock valued at $1,459,060 in the last 90 days. 2.60% of the stock is owned by corporate insiders.

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.