PFG Investments LLC reduced its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI – Free Report) by 23.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,225 shares of the company’s stock after selling 11,400 shares during the quarter. PFG Investments LLC’s holdings in SoFi Technologies were worth $421,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in SOFI. Brighton Jones LLC lifted its stake in SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after purchasing an additional 14,281 shares during the last quarter. Prasad Wealth Partners LLC bought a new position in SoFi Technologies during the fourth quarter worth $182,000. Bank of New York Mellon Corp lifted its stake in SoFi Technologies by 0.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,223,370 shares of the company’s stock worth $49,640,000 after purchasing an additional 8,218 shares during the last quarter. Nwam LLC lifted its stake in SoFi Technologies by 11.3% during the fourth quarter. Nwam LLC now owns 44,635 shares of the company’s stock worth $687,000 after purchasing an additional 4,531 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in SoFi Technologies by 47.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 365,439 shares of the company’s stock worth $5,628,000 after purchasing an additional 118,288 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have weighed in on the company. Truist Financial assumed coverage on SoFi Technologies in a research report on Monday, June 2nd. They issued a “hold” rating and a $14.00 target price on the stock. UBS Group increased their target price on SoFi Technologies from $14.00 to $15.50 and gave the stock a “neutral” rating in a research report on Wednesday, April 30th. JMP Securities assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 target price on the stock. Barclays increased their target price on SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 30th. Finally, Stephens assumed coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 target price on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $14.73.
Insider Activity
In related news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer now directly owns 724,321 shares of the company’s stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Monday, April 21st. The stock was sold at an average price of $10.71, for a total value of $119,748.51. Following the transaction, the executive vice president now directly owns 215,029 shares in the company, valued at approximately $2,302,960.59. The trade was a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 274,095 shares of company stock valued at $3,939,168. Company insiders own 2.60% of the company’s stock.
SoFi Technologies Price Performance
Shares of SOFI opened at $15.85 on Wednesday. The firm has a market capitalization of $17.52 billion, a price-to-earnings ratio of 38.66, a price-to-earnings-growth ratio of 2.66 and a beta of 1.82. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The stock’s fifty day moving average is $13.41 and its 200-day moving average is $13.93.
SoFi Technologies (NASDAQ:SOFI – Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. During the same period last year, the company earned $0.02 earnings per share. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.
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.
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