Mirae Asset Global Investments Co. Ltd. Buys 37,655 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Mirae Asset Global Investments Co. Ltd. grew its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1,085.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 41,124 shares of the company’s stock after purchasing an additional 37,655 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in SoFi Technologies were worth $478,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Illinois Municipal Retirement Fund bought a new stake in SoFi Technologies during the 1st quarter valued at $529,000. Diversified Trust Co bought a new position in shares of SoFi Technologies during the first quarter valued at about $127,000. MFG Wealth Management Inc. boosted its holdings in shares of SoFi Technologies by 27.7% during the first quarter. MFG Wealth Management Inc. now owns 156,277 shares of the company’s stock worth $1,818,000 after purchasing an additional 33,887 shares during the period. Sequoia Financial Advisors LLC bought a new stake in shares of SoFi Technologies in the first quarter worth about $181,000. Finally, Kellett Wealth Advisors LLC purchased a new position in SoFi Technologies during the 1st quarter valued at about $116,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

SOFI stock opened at $18.54 on Friday. The stock’s 50 day simple moving average is $14.40 and its 200 day simple moving average is $14.03. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.92. The stock has a market capitalization of $20.49 billion, a PE ratio of 45.21, a price-to-earnings-growth ratio of 3.15 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI) last announced 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 for the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The company’s quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 66,847 shares of the firm’s stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Magdalena Yesil sold 87,140 shares of the company’s stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the sale, the director directly owned 289,258 shares of the company’s stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 274,095 shares of company stock worth $3,939,168. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Truist Financial started coverage on SoFi Technologies in a report on Monday, June 2nd. They issued a “hold” rating and a $14.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. UBS Group boosted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a report on Wednesday, April 30th. Citizens Jmp initiated coverage on shares of 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, Barclays lifted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $14.73.

SoFi Technologies 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.