SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 929,128 shares of the company’s stock after selling 61,261 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.10% of SoFi Technologies worth $5,639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in SoFi Technologies by 7.8% during the 3rd quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock worth $326,027,000 after acquiring an additional 4,846,633 shares in the last quarter. BlackRock Inc. grew its stake in SoFi Technologies by 2.7% in the third quarter. BlackRock Inc. now owns 31,679,161 shares of the company’s stock worth $154,595,000 after purchasing an additional 826,805 shares in the last quarter. Moneta Group Investment Advisors LLC bought a new stake in SoFi Technologies in the fourth quarter valued at about $83,643,000. State Street Corp raised its stake in SoFi Technologies by 0.4% during the third quarter. State Street Corp now owns 11,735,611 shares of the company’s stock valued at $57,270,000 after buying an additional 48,717 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in SoFi Technologies by 5.4% during the 4th quarter. Geode Capital Management LLC now owns 11,567,145 shares of the company’s stock worth $53,324,000 after buying an additional 589,623 shares during the last quarter. Institutional investors own 37.13% of the company’s stock.

SoFi Technologies Stock Down 0.9 %

SoFi Technologies stock opened at $8.66 on Friday. The company’s 50-day moving average price is $8.92 and its two-hundred day moving average price is $7.18. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of -34.64 and a beta of 1.81. SoFi Technologies, Inc. has a 52 week low of $4.24 and a 52 week high of $11.70. The company has a current ratio of 1.65, a quick ratio of 0.29 and a debt-to-equity ratio of 1.23.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, July 31st. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The firm had revenue of $488.80 million for the quarter, compared to analysts’ expectations of $473.94 million. SoFi Technologies had a negative return on equity of 3.76% and a negative net margin of 10.38%. The firm’s quarterly revenue was up 37.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.12) earnings per share. On average, analysts expect that SoFi Technologies, Inc. will post -0.21 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, insider Chad M. Borton sold 90,458 shares of the business’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $8.68, for a total value of $785,175.44. Following the sale, the insider now directly owns 229,449 shares in the company, valued at $1,991,617.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CMO Webb Lauren Stafford sold 100,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $9.29, for a total transaction of $929,000.00. Following the completion of the sale, the chief marketing officer now directly owns 335,945 shares of the company’s stock, valued at approximately $3,120,929.05. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Chad M. Borton sold 90,458 shares of SoFi Technologies stock in a transaction on Friday, June 16th. The stock was sold at an average price of $8.68, for a total value of $785,175.44. Following the completion of the transaction, the insider now owns 229,449 shares in the company, valued at $1,991,617.32. The disclosure for this sale can be found here. Insiders sold a total of 390,458 shares of company stock worth $3,652,175 over the last 90 days. 2.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Oppenheimer downgraded SoFi Technologies from an “outperform” rating to a “market perform” rating in a report on Thursday, June 15th. Mizuho increased their target price on shares of SoFi Technologies from $9.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Stephens assumed coverage on shares of SoFi Technologies in a report on Monday, July 24th. They issued an “equal weight” rating and a $7.00 price target for the company. Piper Sandler raised their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock a “neutral” rating in a report on Friday, August 18th. Finally, Bank of America lifted their target price on SoFi Technologies from $10.00 to $11.50 and gave the company a “neutral” rating in a research note on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.16.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.