Mizuho reiterates SoFi Technologies Inc. (SOFI) stock to a Buy


SoFi Technologies Inc.’s filing revealed that its Chief Technology Officer Rishel Jeremy unloaded Company’s shares for reported $0.48 million on Sep 01. In the deal valued at $8.88 per share,53,532 shares were sold. As a result of this transaction, Rishel Jeremy now holds 160,597 shares worth roughly $ 1.41 million.

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Then, Borton Chad M sold 90,458 shares, generating $784,985 in total proceeds. Upon selling the shares at $8.68, the President – SoFi Bank now owns 229,449 shares.

Before that, Stafford Webb Lauren sold 100,000 shares. SoFi Technologies Inc. shares valued at $928,800 were divested by the Chief Marketing Officer at a price of $9.29 per share. As a result of the transaction, Stafford Webb Lauren now holds 335,945 shares, worth roughly $2.94 million.

Mizuho reiterated its SoFi Technologies Inc. [SOFI] rating to a Buy in a research note published on Tuesday, August 02, 2023; the price target was $15. PT values the company’s stock at a premium of 41.67 to its Tuesday closing price.

Price Performance Review of SOFI

On Tuesday, SoFi Technologies Inc. [NASDAQ:SOFI] saw its stock fall -0.46% to $8.75. On the same session, the stock had its day’s lowest price of $8.62, but rose to a high of $8.875. Over the last five days, the stock has gained 6.32%. SoFi Technologies Inc. shares have risen nearly 89.80% since the year began. Nevertheless, the stocks have risen 49.57% over the past one year. While a 52-week high of $11.70 was reached on 07/31/23, a 52-week low of $4.24 was recorded on 01/03/23. SMA at 50 days reached $8.94, while 200 days put it at $6.64. A total of 18.86 million shares were traded, compared to the trading of 17.74 million shares in the previous session.

Levels Of Support And Resistance For SOFI Stock

The 24-hour chart illustrates a support level at 8.62, which if violated will result in even more drops to 8.49. On the upside, there is a resistance level at 8.88. A further resistance level may holdings at 9.00. The Relative Strength Index (RSI) on the 14-day chart is 51.14, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.34, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 16.91%. Stochastics %K at 85.67% indicates the stock is a selling.

How much short interest is there in SoFi Technologies Inc.?

A steep rise in short interest was recorded in SoFi Technologies Inc. stocks on Aug 14, 2023, dropping by -19.69 million shares to a total of 104.05 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 123.74 million shares. There was a decline of -18.92%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 11.72% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.13.

SoFi Technologies Inc. [SOFI] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 72,637,938 shares, or roughly 7.72% of the outstanding SOFI shares. In other words, the investor’s shares have risen by 4,070,657 from its previous 13-F filing of 68567281.0. Additionally, BlackRock Fund Advisors increased 5.66% of its stake after which the total value it holdings stand at $397,105,866, while D. E. Shaw & Co. LP added 293.94% of its stake to hold $177.9 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 1,567,782 shares of SoFi Technologies Inc., while Two Sigma Advisers LP bought 13,487,400 shares. At present, Geode Capital Management LLC is holding 12,877,675 shares valued at $147.45 million. Norges Bank Investment Management owned 9,717,705 shares of the company at the time of its most recent 13F filing, worth $111.27 million.

According to FactSet, SoFi Technologies Inc.’s share price will average $10.32 in the next year, based on opinions of analysts polled by the firm. This is up nearly 13.77 percent from its previous closing price of $8.79. Analysts expect SoFi Technologies Inc. stock to reach the higher price of $16.00, while the lowest price estimate is $3.00.


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