SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Comerica Bank

Comerica Bank decreased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 17.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,841 shares of the company’s stock after selling 4,687 shares during the quarter. Comerica Bank’s holdings in SoFi Technologies were worth $336,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $27,000. Hollencrest Capital Management purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $31,000. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at approximately $38,000. Legacy Investment Solutions LLC lifted its position in shares of SoFi Technologies by 116.3% during the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company’s stock valued at $48,000 after buying an additional 1,744 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of SoFi Technologies by 33.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company’s stock valued at $68,000 after buying an additional 1,100 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SOFI. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Barclays increased their target price on SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Citizens Jmp began coverage on SoFi Technologies in a research report on Friday, April 25th. They set an “outperform” rating and a $17.00 target price on the stock. Finally, UBS Group increased their target price on SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $14.38.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 11,181 shares of the business’s stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total transaction of $119,748.51. Following the completion of the sale, the executive vice president now owns 215,029 shares in the company, valued at approximately $2,302,960.59. This trade represents a 4.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 100,172 shares of company stock worth $1,271,115 in the last quarter. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 2.6%

NASDAQ SOFI opened at $13.92 on Friday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business’s fifty day simple moving average is $12.07 and its 200-day simple moving average is $13.94. The firm has a market cap of $15.39 billion, a PE ratio of 37.62, a P/E/G ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.03 by $0.03. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. During the same quarter in the previous year, the firm earned $0.02 EPS. The company’s quarterly revenue was up 32.7% compared to the same quarter last year. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 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.