Mizuho Markets Americas LLC Lowers Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Mizuho Markets Americas LLC lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 51.2% in the first quarter, Holdings Channel reports. The institutional investor owned 604,992 shares of the company’s stock after selling 635,706 shares during the period. Mizuho Markets Americas LLC’s holdings in SoFi Technologies were worth $4,416,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in SoFi Technologies by 6.6% during the fourth quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock worth $810,527,000 after buying an additional 5,057,233 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after buying an additional 6,870,610 shares during the period. Nikko Asset Management Americas Inc. lifted its holdings in SoFi Technologies by 176.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after buying an additional 6,870,610 shares during the period. Norges Bank purchased a new stake in SoFi Technologies during the fourth quarter worth $71,349,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in SoFi Technologies by 3.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock worth $54,659,000 after buying an additional 199,949 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI traded down $0.06 during mid-day trading on Friday, hitting $7.47. The stock had a trading volume of 33,123,268 shares, compared to its average volume of 33,471,562. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The company has a 50 day moving average of $6.85 and a two-hundred day moving average of $7.41. SoFi Technologies, Inc. has a twelve month low of $6.15 and a twelve month high of $11.70. The firm has a market cap of $7.90 billion, a PE ratio of -24.10, a PEG ratio of 1.73 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The firm had revenue of $580.60 million for the quarter, compared to the consensus estimate of $555.27 million. During the same period in the prior year, the firm earned ($0.05) EPS. The firm’s revenue was up 26.2% on a year-over-year basis. Research analysts predict that SoFi Technologies, Inc. will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Over the last three months, insiders have acquired 88,390 shares of company stock valued at $597,569. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of analyst reports. BTIG Research initiated coverage on SoFi Technologies in a report on Friday, June 7th. They set a “neutral” rating for the company. Jefferies Financial Group reduced their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Tuesday, July 2nd. Citigroup began coverage on SoFi Technologies in a research report on Monday, April 8th. They set a “buy” rating and a $11.00 price target on the stock. Finally, Barclays reduced their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average target price of $9.29.

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.