Nikko Asset Management Americas Inc. Sells 2,304,203 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Nikko Asset Management Americas Inc. cut its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 23.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,732,843 shares of the company’s stock after selling 2,304,203 shares during the period. SoFi Technologies makes up approximately 1.3% of Nikko Asset Management Americas Inc.’s portfolio, making the stock its 21st biggest position. Nikko Asset Management Americas Inc.’s holdings in SoFi Technologies were worth $119,008,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies in the 4th quarter worth about $27,000. Hollencrest Capital Management bought a new position in shares of SoFi Technologies in the 4th quarter worth about $31,000. FNY Investment Advisers LLC raised its position in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares in the last quarter. IAG Wealth Partners LLC bought a new position in shares of SoFi Technologies in the 4th quarter worth about $38,000. Finally, Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the 3rd quarter worth about $28,000. 38.43% of the stock is owned by institutional investors.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 92,004 shares of company stock worth $1,459,060 in the last 90 days. Insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $12.09 on Monday. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The stock’s 50 day moving average price is $14.89 and its 200-day moving average price is $12.89. The company has a market capitalization of $13.26 billion, a PE ratio of 32.68, a PEG ratio of 2.24 and a beta of 1.79. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the firm posted $0.04 EPS. On average, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on SOFI. The Goldman Sachs Group boosted their target price on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. UBS Group boosted their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.50.

About SoFi Technologies

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.