M&T Bank Corp Acquires 2,332 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

M&T Bank Corp raised its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,582 shares of the company’s stock after purchasing an additional 2,332 shares during the quarter. M&T Bank Corp’s holdings in SoFi Technologies were worth $359,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp increased its stake in SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after buying an additional 310,532 shares during the period. Dimensional Fund Advisors LP increased its position in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares during the period. Marshall Wace LLP raised its stake in shares of SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock valued at $42,026,000 after acquiring an additional 3,593,464 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of SoFi Technologies by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after purchasing an additional 87,097 shares during the period. Finally, Azora Capital LP grew its stake in SoFi Technologies by 8.8% in the third quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after purchasing an additional 352,901 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Trading Down 8.5 %

SoFi Technologies stock opened at $15.24 on Thursday. 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 stock has a market cap of $16.54 billion, a PE ratio of 152.42, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The stock has a 50-day moving average of $13.30 and a two-hundred day moving average of $9.33. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm posted ($0.03) EPS. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,012,748 shares of company stock worth $416,356,356. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SOFI. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Barclays raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Mizuho upped their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $10.50.

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.