SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. cut its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,756 shares of the company’s stock after selling 18,943 shares during the period. Avantax Advisory Services Inc.’s holdings in SoFi Technologies were worth $1,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new position in SoFi Technologies during the 3rd quarter worth $28,000. Hollencrest Capital Management bought a new position in SoFi Technologies in the 4th quarter valued at about $31,000. FNY Investment Advisers LLC increased its stake in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the period. SouthState Corp bought a new stake in shares of SoFi Technologies during the 3rd quarter worth about $67,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of SoFi Technologies by 63.5% in the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after acquiring an additional 2,130 shares during the period. 38.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on SOFI. The Goldman Sachs Group boosted their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. UBS Group raised their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $12.73 on Thursday. The stock has a market cap of $13.96 billion, a PE ratio of 34.41, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business has a fifty day simple moving average of $14.73 and a 200-day simple moving average of $12.94.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm posted $0.04 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This trade represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 27,013 shares of company stock valued at $437,402 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.