MML Investors Services LLC Acquires 195,236 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

MML Investors Services LLC grew its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 15.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,489,932 shares of the company’s stock after acquiring an additional 195,236 shares during the period. MML Investors Services LLC owned 0.14% of SoFi Technologies worth $11,711,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of SOFI. Capital Performance Advisors LLP acquired a new stake in SoFi Technologies in the third quarter valued at $27,000. Brooklyn Investment Group acquired a new stake in SoFi Technologies during the 3rd quarter worth about $28,000. Allspring Global Investments Holdings LLC grew its holdings in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth about $47,000. 38.43% of the stock is currently owned by institutional investors.

Insider Transactions at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,960,748 shares of company stock valued at $415,523,316. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 1.8 %

SOFI opened at $15.29 on Wednesday. The company has a fifty day moving average price of $12.35 and a 200-day moving average price of $8.96. The firm has a market capitalization of $16.59 billion, a P/E ratio of 152.90, a price-to-earnings-growth ratio of 2.66 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $16.61.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the previous year, the business earned ($0.03) EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on SOFI shares. Bank of America reissued an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. raised their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Finally, Mizuho raised their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $10.50.

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.