Man Group plc Acquires Shares of 448,460 SoFi Technologies, Inc. (NASDAQ:SOFI)

Man Group plc acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 4th quarter, Holdings Channel.com reports. The fund acquired 448,460 shares of the company’s stock, valued at approximately $6,906,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Maven Securities LTD acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $254,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of SoFi Technologies by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 840,102 shares of the company’s stock worth $12,939,000 after purchasing an additional 24,247 shares during the period. Lazard Asset Management LLC raised its position in shares of SoFi Technologies by 94.4% during the 4th quarter. Lazard Asset Management LLC now owns 19,649 shares of the company’s stock worth $301,000 after purchasing an additional 9,539 shares during the period. Jefferies Financial Group Inc. acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $1,164,000. Finally, Focus Partners Wealth raised its position in shares of SoFi Technologies by 11.7% during the 4th quarter. Focus Partners Wealth now owns 301,511 shares of the company’s stock worth $4,643,000 after purchasing an additional 31,551 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of research reports. JMP Securities initiated coverage on SoFi Technologies in a research report on Friday, April 25th. They set a “market outperform” rating and a $17.00 price target on the stock. Barclays increased their price target on SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Citizens Jmp started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued an “outperform” rating and a $17.00 target price on the stock. Finally, Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $14.38.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $13.73 on Tuesday. The stock has a fifty day moving average price of $12.11 and a two-hundred day moving average price of $13.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market cap of $15.18 billion, a P/E ratio of 37.11, a PEG ratio of 2.24 and a beta of 1.84. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period last year, the company posted $0.02 EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,185 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This represents a 5.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 100,172 shares of company stock valued at $1,271,115. 2.60% of the stock is owned by corporate insiders.

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.