M&T Bank Corp Has $815,000 Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

M&T Bank Corp increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 16.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,912 shares of the company’s stock after acquiring an additional 7,330 shares during the quarter. M&T Bank Corp’s holdings in SoFi Technologies were worth $815,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SOFI. Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the period. Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies during the third quarter valued at $16,014,000. Zacks Investment Management acquired a new position in shares of SoFi Technologies during the third quarter valued at $3,766,000. Point72 DIFC Ltd acquired a new position in shares of SoFi Technologies during the third quarter valued at $3,219,000. Finally, Rockefeller Capital Management L.P. lifted its stake in SoFi Technologies by 20.6% in the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock valued at $17,365,000 after buying an additional 376,899 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the transaction, the director now directly owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the 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 transaction, the executive vice president now directly owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 144,004 shares of company stock valued at $2,292,100. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 0.7 %

Shares of SoFi Technologies stock opened at $11.26 on Wednesday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The business has a 50-day moving average of $15.07 and a two-hundred day moving average of $12.80. The company has a market capitalization of $12.35 billion, a P/E ratio of 30.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. 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 (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) 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 quarter in the prior year, the firm earned $0.04 earnings per share. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Upgrades and Downgrades

SOFI has been the topic of several analyst reports. Citigroup increased their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

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.