Sanctuary Advisors LLC Reduces Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Sanctuary Advisors LLC cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 63.9% in the third quarter, Holdings Channel.com reports. The fund owned 39,981 shares of the company’s stock after selling 70,621 shares during the quarter. Sanctuary Advisors LLC’s holdings in SoFi Technologies were worth $314,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies during the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC lifted its stake in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of SoFi Technologies during the third quarter worth approximately $47,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Down 3.7 %

Shares of NASDAQ:SOFI opened at $15.98 on Friday. 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 company has a market capitalization of $17.34 billion, a P/E ratio of 159.82, a P/E/G ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $17.19. The stock’s fifty day simple moving average is $14.15 and its 200-day simple moving average is $9.75.

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

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the sale, the executive vice president now directly owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on SOFI. Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. increased their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Finally, The Goldman Sachs Group boosted their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, SoFi Technologies presently has an average rating of “Hold” and an average price target of $11.04.

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.