Orion Portfolio Solutions LLC Decreases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Orion Portfolio Solutions LLC cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.4% in the third quarter, Holdings Channel.com reports. The firm owned 21,585 shares of the company’s stock after selling 2,787 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in SoFi Technologies were worth $170,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SOFI. Charles Schwab Investment Management Inc. increased its stake in shares of SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares during the last quarter. Zacks Investment Management purchased a new stake in shares of SoFi Technologies in the third quarter valued at about $3,766,000. Citizens Financial Group Inc. RI increased its position in SoFi Technologies by 41.5% during the third quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company’s stock worth $1,892,000 after purchasing an additional 70,603 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the period. Finally, Qsemble Capital Management LP acquired a new position in SoFi Technologies in the 3rd quarter valued at about $930,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Bank of America restated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. The Goldman Sachs Group increased their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Jefferies Financial Group increased their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $11.04.

SoFi Technologies Price Performance

Shares of SOFI opened at $15.35 on Friday. The company has a market cap of $16.66 billion, a P/E ratio of 153.52, a PEG ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. 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 firm’s 50 day moving average price is $13.55 and its 200 day moving average price is $9.43.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.03) earnings per share. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This trade represents a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,009,658 shares of company stock valued at $416,825,197 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

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.