Bessemer Group Inc. Acquires Shares of 25,000 SoFi Technologies, Inc. (NASDAQ:SOFI)

Bessemer Group Inc. purchased a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 25,000 shares of the company’s stock, valued at approximately $385,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ purchased a new stake in SoFi Technologies during the fourth quarter valued at about $27,000. Hollencrest Capital Management bought a new position in SoFi Technologies in the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC grew its stake in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares in the last quarter. IAG Wealth Partners LLC purchased a new position in SoFi Technologies in the 4th quarter valued at approximately $38,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in SoFi Technologies by 33.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock valued at $68,000 after acquiring an additional 1,100 shares during the period. Institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares of the company’s stock, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock worth $1,308,075 over the last three months. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $10.94 on Wednesday. The business’s 50-day moving average price is $12.85 and its 200-day moving average price is $13.46. The firm has a market capitalization of $12.00 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the prior year, the firm earned $0.04 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods restated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Citigroup boosted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Needham & Company LLC increased their target price on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Four equities research 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 stock. According to data from MarketBeat, the company currently has a consensus 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.