SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Merit Financial Group LLC

Merit Financial Group LLC decreased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 41.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,285 shares of the company’s stock after selling 12,887 shares during the period. Merit Financial Group LLC’s holdings in SoFi Technologies were worth $213,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in SoFi Technologies by 9.9% in the fourth 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 period. Two Sigma Advisers LP acquired a new position in shares of SoFi Technologies during the 4th quarter worth $299,980,000. Geode Capital Management LLC grew its stake in shares of SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company’s stock worth $276,288,000 after purchasing an additional 315,899 shares during the period. Norges Bank acquired a new position in shares of SoFi Technologies during the 4th quarter worth $103,678,000. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of SoFi Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company’s stock valued at $97,230,000 after acquiring an additional 167,780 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They set a “hold” rating and a $14.00 price target for the company. Barclays lifted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 30th. Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. UBS Group lifted their price target on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a “neutral” rating in a research report on Wednesday, April 30th. Finally, JMP Securities assumed coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a “market outperform” rating and a $17.00 price target for the company. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $14.73.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $13.95, for a total value of $1,215,603.00. Following the transaction, the director now owns 376,398 shares in the company, valued at $5,250,752.10. The trade was a 18.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 276,787 shares of company stock worth $3,753,076 in the last quarter. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Down 1.1%

SOFI stock opened at $14.90 on Friday. The stock has a market capitalization of $16.47 billion, a P/E ratio of 40.27, a PEG ratio of 2.24 and a beta of 1.82. 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 one year low of $6.01 and a one year high of $18.42. The company has a 50 day moving average price of $12.70 and a two-hundred day moving average price of $14.00.

SoFi Technologies (NASDAQ:SOFI) last released its 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. The firm had revenue of $763.81 million during the quarter, compared to analysts’ expectations of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. SoFi Technologies’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.02 EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS 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.