Miracle Mile Advisors LLC Sells 9,913 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Miracle Mile Advisors LLC decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,518 shares of the company’s stock after selling 9,913 shares during the quarter. Miracle Mile Advisors LLC’s holdings in SoFi Technologies were worth $983,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Elequin Capital LP lifted its position in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company’s stock worth $42,000 after purchasing an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in shares of SoFi Technologies by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company’s stock valued at $881,000 after acquiring an additional 685 shares during the period. Game Plan Financial Advisors LLC boosted its stake in SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company’s stock worth $128,000 after acquiring an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its holdings in SoFi Technologies by 33.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock valued at $68,000 after purchasing an additional 1,100 shares during the period. Finally, Parallel Advisors LLC raised its holdings in SoFi Technologies by 19.4% in the first quarter. Parallel Advisors LLC now owns 8,754 shares of the company’s stock worth $102,000 after purchasing an additional 1,420 shares during the period. 38.43% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of research reports. Needham & Company LLC reissued a “buy” rating and set a $20.00 target price on shares of SoFi Technologies in a research note on Wednesday, April 30th. JMP Securities initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set a “market outperform” rating and a $17.00 price objective on the stock. Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Truist Financial assumed coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a “hold” rating and a $14.00 price target on the stock. Finally, Citizens Jmp started coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an “outperform” rating and a $17.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $14.36.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $14.10 on Tuesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The stock has a market capitalization of $15.59 billion, a P/E ratio of 38.11, a price-to-earnings-growth ratio of 2.24 and a beta of 1.82. The stock has a fifty day moving average of $12.41 and a 200-day moving average of $13.99.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company’s revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. This represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 102,507 shares of company stock worth $1,283,528 in the last 90 days. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies 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.