Rakuten Securities Inc. Invests $1.37 Million in SoFi Technologies, Inc. (NASDAQ:SOFI)

Rakuten Securities Inc. bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 88,967 shares of the company’s stock, valued at approximately $1,370,000. SoFi Technologies makes up approximately 0.5% of Rakuten Securities Inc.’s investment portfolio, making the stock its 28th largest holding.

A number of other institutional investors have also made changes to their positions in SOFI. Janney Montgomery Scott LLC lifted its position in shares of SoFi Technologies by 26.1% during the third quarter. Janney Montgomery Scott LLC now owns 135,063 shares of the company’s stock worth $1,062,000 after purchasing an additional 27,958 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the third quarter valued at $27,000. Jaffetilchin Investment Partners LLC raised its holdings in SoFi Technologies by 57.3% in the third quarter. Jaffetilchin Investment Partners LLC now owns 57,023 shares of the company’s stock valued at $448,000 after acquiring an additional 20,765 shares in the last quarter. Keystone Financial Services acquired a new stake in SoFi Technologies in the third quarter valued at $99,000. Finally, Entropy Technologies LP raised its holdings in SoFi Technologies by 52.0% in the third quarter. Entropy Technologies LP now owns 110,600 shares of the company’s stock valued at $869,000 after acquiring an additional 37,833 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Up 0.7 %

SoFi Technologies stock opened at $11.26 on Wednesday. The stock has a market cap of $12.35 billion, a price-to-earnings ratio of 30.43, a PEG ratio of 2.24 and a beta of 1.79. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company’s 50-day moving average price is $15.07 and its two-hundred day moving average price is $12.80. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its 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 net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the business posted $0.04 EPS. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. Mizuho upped their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citigroup increased their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Bank of America reissued an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

Insider Transactions at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the firm’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 directly owns 25,937 shares in the company, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction that occurred 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 approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 144,004 shares of company stock valued at $2,292,100 in the last quarter. Insiders own 2.60% of the company’s stock.

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.