SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 191,593 shares of the company’s stock after selling 2,997 shares during the quarter. Van ECK Associates Corp’s holdings in SoFi Technologies were worth $1,906,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. GAMMA Investing LLC purchased a new position in SoFi Technologies during the fourth quarter worth approximately $27,000. Westside Investment Management Inc. raised its stake in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock worth $31,000 after buying an additional 1,500 shares during the period. CNB Bank purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $50,000. Fortitude Family Office LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $60,000. Finally, NBC Securities Inc. purchased a new stake in SoFi Technologies in the 3rd quarter worth $61,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on SOFI. Jefferies Financial Group decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Wedbush reissued an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a report on Tuesday, April 30th. The Goldman Sachs Group lifted their price target on SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Finally, Mizuho reduced their price objective on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a research note on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average price target of $9.08.

Insider Activity

In related news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the transaction, the chief technology officer now owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares in the company, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony Noto bought 28,775 shares of the company’s stock in a transaction on Friday, May 3rd. The stock was purchased at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the transaction, the chief executive officer now owns 8,033,369 shares in the company, valued at $55,430,246.10. The disclosure for this purchase can be found here. Insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 0.1 %

Shares of SoFi Technologies stock opened at $7.05 on Thursday. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -22.81 and a beta of 1.75. The stock has a 50 day moving average of $7.44 and a 200 day moving average of $7.84.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. The business had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. During the same period in the prior year, the business posted ($0.05) EPS. The company’s revenue was up 26.2% compared to the same quarter last year. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

SoFi Technologies 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.