Principal Financial Group Inc. Has $551,000 Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Principal Financial Group Inc. lowered its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 70,095 shares of the company’s stock after selling 8,634 shares during the period. Principal Financial Group Inc.’s holdings in SoFi Technologies were worth $551,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of SOFI. Captrust Financial Advisors lifted its holdings in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after purchasing an additional 809 shares in the last quarter. Summit Trail Advisors LLC lifted its holdings in SoFi Technologies by 0.3% during the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after acquiring an additional 855 shares during the period. CIBC Asset Management Inc boosted its position in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after purchasing an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC grew its stake in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the period. Finally, Stratos Wealth Advisors LLC grew its stake in SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the period. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $14.84 on Monday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company’s fifty day moving average price is $14.59 and its 200-day moving average price is $10.09. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $17.19. The stock has a market cap of $16.10 billion, a PE ratio of 148.41, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77.

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Morgan Stanley boosted their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lifted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $11.13.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares in the company, valued at $415,510.74. The trade was a 66.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at $2,926,632.75. The trade was a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

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.