M&T Bank Corp Grows Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

M&T Bank Corp raised its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 58,186 shares of the company’s stock after acquiring an additional 5,274 shares during the quarter. M&T Bank Corp’s holdings in SoFi Technologies were worth $677,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Two Sigma Advisers LP bought a new position in SoFi Technologies in the fourth quarter worth approximately $299,980,000. Geode Capital Management LLC raised its position in SoFi Technologies by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after acquiring an additional 315,899 shares during the period. Norges Bank bought a new position in SoFi Technologies in the fourth quarter worth approximately $103,678,000. Finally, Northern Trust Corp raised its position in SoFi Technologies by 22.7% in the fourth quarter. Northern Trust Corp now owns 6,052,301 shares of the company’s stock worth $93,205,000 after acquiring an additional 1,121,550 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling

In related news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies 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 completion of the transaction, the director directly owned 289,258 shares of the company’s stock, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares of the company’s stock, valued at approximately $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 274,095 shares of company stock valued at $3,939,168. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of SoFi Technologies in a research report on Monday. They issued a “neutral” rating and a $19.00 price target on the stock. Keefe, Bruyette & Woods raised their price objective on shares of SoFi Technologies from $9.00 to $13.00 and gave the company an “underperform” rating in a research report on Thursday, July 10th. Cowen began coverage on shares of SoFi Technologies in a research report on Friday. They set a “hold” rating on the stock. Citizens Jmp downgraded shares of SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research report on Monday. Finally, Stephens began coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an “overweight” rating and a $20.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $16.41.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $20.96 on Wednesday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $21.86. The stock has a market capitalization of $23.17 billion, a P/E ratio of 51.12, a PEG ratio of 3.59 and a beta of 1.91. The firm has a fifty day simple moving average of $15.48 and a two-hundred day simple moving average of $14.26. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. During the same period last year, the company posted $0.02 EPS. The business’s revenue was up 32.7% on a year-over-year basis. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

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.