SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by PFG Investments LLC

PFG Investments LLC lowered its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 35.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,045 shares of the company’s stock after selling 29,352 shares during the quarter. PFG Investments LLC’s holdings in SoFi Technologies were worth $417,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC acquired a new position in shares of SoFi Technologies during the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC increased its position in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in SoFi Technologies during the third quarter worth approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in SoFi Technologies during the third quarter worth approximately $47,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $10.47 on Wednesday. The firm has a fifty day simple moving average of $8.45 and a 200-day simple moving average of $7.48. The company has a market capitalization of $11.07 billion, a PE ratio of -33.77, a price-to-earnings-growth ratio of 2.08 and a beta of 1.70. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $11.34. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The company had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. During the same period in the prior year, the company posted ($0.06) EPS. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the transaction, the executive vice president now directly owns 152,203 shares in the company, valued at approximately $1,576,823.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SOFI shares. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday. Keefe, Bruyette & Woods cut their price objective on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Barclays dropped their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Finally, Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $9.33.

SoFi Technologies Company 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.