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

Advisory Services Network LLC lessened its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 15.7% in the fourth quarter, HoldingsChannel reports. The fund owned 50,825 shares of the company’s stock after selling 9,451 shares during the period. Advisory Services Network LLC’s holdings in SoFi Technologies were worth $783,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in SoFi Technologies in the fourth quarter worth about $27,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies in the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC boosted its holdings in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. IAG Wealth Partners LLC acquired a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $38,000. Finally, Nomura Asset Management Co. Ltd. raised 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 worth $68,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Morgan Stanley increased their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. UBS Group boosted their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, The Goldman Sachs Group lifted their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. 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 assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

Shares of SOFI opened at $10.82 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The company has a market capitalization of $11.86 billion, a price-to-earnings ratio of 29.24, a P/E/G ratio of 2.24 and a beta of 1.86. The business’s 50-day moving average is $12.92 and its 200-day moving average is $13.47. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter in the previous year, the company posted $0.04 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is owned by corporate insiders.

About SoFi Technologies

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.