Prudential Financial Inc. Decreases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Prudential Financial Inc. lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 25.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 52,474 shares of the company’s stock after selling 18,139 shares during the quarter. Prudential Financial Inc.’s holdings in SoFi Technologies were worth $808,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares during the last quarter. Amundi boosted its holdings in SoFi Technologies by 58,176.3% in the fourth quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after acquiring an additional 2,700,543 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $14,479,000. Berkshire Capital Holdings Inc. increased its holdings in shares of SoFi Technologies by 6,208,000.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company’s stock valued at $9,560,000 after acquiring an additional 620,800 shares in the last quarter. Finally, Zacks Investment Management purchased a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $3,766,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on SOFI shares. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. UBS Group lifted their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Dbs Bank raised 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 assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $12.50.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction 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 transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 3.0 %

SOFI opened at $9.86 on Tuesday. The company has a fifty day moving average of $13.66 and a two-hundred day moving average of $13.38. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The stock has a market capitalization of $10.81 billion, a price-to-earnings ratio of 26.65, a PEG ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly 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 period last year, the firm posted $0.04 earnings per share. On average, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.