SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Stifel Financial Corp

Stifel Financial Corp lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 13.2% during the third quarter, HoldingsChannel.com reports. The firm owned 94,193 shares of the company’s stock after selling 14,288 shares during the period. Stifel Financial Corp’s holdings in SoFi Technologies were worth $740,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SOFI. Dimensional Fund Advisors LP raised its position in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after buying an additional 9,482,683 shares during the period. Marshall Wace LLP increased its stake in SoFi Technologies by 130.0% during the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of SoFi Technologies by 214.9% in the 3rd 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. Mizuho Markets Americas LLC lifted its stake in shares of SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after purchasing an additional 2,440,745 shares in the last quarter. Finally, Quadrature Capital Ltd purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth about $16,014,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the sale, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This represents a 78.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,009,264 shares of company stock worth $416,889,795 over the last quarter. 2.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SOFI shares. Mizuho lifted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $11.04.

SoFi Technologies Stock Up 2.5 %

Shares of NASDAQ:SOFI opened at $16.02 on Wednesday. The firm has a market cap of $17.38 billion, a PE ratio of 160.22, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company has a fifty day simple moving average of $13.66 and a 200 day simple moving average of $9.53. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million during 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 revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the business earned ($0.03) EPS. On average, equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.