Kestra Private Wealth Services LLC Sells 10,650 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Kestra Private Wealth Services LLC lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) by 15.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 59,336 shares of the company’s stock after selling 10,650 shares during the period. Kestra Private Wealth Services LLC’s holdings in SoFi Technologies were worth $561,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. WASHINGTON TRUST Co bought a new position in SoFi Technologies in the first quarter worth about $26,000. US Bancorp DE boosted its position in shares of SoFi Technologies by 197.0% during the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after purchasing an additional 2,000 shares in the last quarter. Herold Advisors Inc. bought a new stake in shares of SoFi Technologies during the first quarter valued at approximately $29,000. SOA Wealth Advisors LLC. boosted its position in shares of SoFi Technologies by 113.3% during the first quarter. SOA Wealth Advisors LLC. now owns 3,200 shares of the company’s stock valued at $30,000 after purchasing an additional 1,700 shares in the last quarter. Finally, SRS Capital Advisors Inc. boosted its position in shares of SoFi Technologies by 1,372.5% during the first quarter. SRS Capital Advisors Inc. now owns 3,269 shares of the company’s stock valued at $31,000 after purchasing an additional 3,047 shares in the last quarter. 38.19% of the stock is owned by institutional investors.

SoFi Technologies Price Performance

SOFI opened at $6.05 on Monday. The company has a debt-to-equity ratio of 0.72, a quick ratio of 2.83 and a current ratio of 2.83. The stock has a market capitalization of $5.54 billion, a P/E ratio of -13.15 and a beta of 1.53. The company’s 50-day simple moving average is $6.55 and its two-hundred day simple moving average is $7.03. SoFi Technologies, Inc. has a 52-week low of $4.82 and a 52-week high of $24.65.

SoFi Technologies (NASDAQ:SOFIGet Rating) last posted its earnings results on Tuesday, August 2nd. The company reported ($0.12) EPS for the quarter, hitting analysts’ consensus estimates of ($0.12). SoFi Technologies had a negative net margin of 27.19% and a negative return on equity of 7.30%. The business had revenue of $362.53 million during the quarter, compared to the consensus estimate of $346.39 million. As a group, analysts predict that SoFi Technologies, Inc. will post -0.45 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Credit Suisse Group increased their price target on shares of SoFi Technologies from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, August 3rd. Morgan Stanley boosted their price target on SoFi Technologies from $7.00 to $7.50 and gave the stock an “equal weight” rating in a research report on Thursday, August 25th. Mizuho boosted their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Seaport Res Ptn reissued a “neutral” rating on shares of SoFi Technologies in a research report on Friday, September 9th. Finally, Bank of America upgraded SoFi Technologies from a “neutral” rating to a “buy” rating and raised their price target for the company from $8.00 to $9.00 in a report on Wednesday, September 14th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.36.

Insiders Place Their Bets

In other SoFi Technologies news, major shareholder Group Corp Softbank sold 6,683,133 shares of the stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $8.17, for a total value of $54,601,196.61. Following the transaction, the insider now owns 83,216,977 shares of the company’s stock, valued at $679,882,702.09. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 13.00% of the stock is currently owned by insiders.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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