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

PFG Investments LLC reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 35.6% during the 3rd quarter, HoldingsChannel.com reports. 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 Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Pathway Financial Advisers LLC lifted its holdings in SoFi Technologies by 13.0% in the third quarter. Pathway Financial Advisers LLC now owns 50,129 shares of the company’s stock worth $394,000 after acquiring an additional 5,777 shares during the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of SoFi Technologies by 11.6% in the 3rd quarter. Arkadios Wealth Advisors now owns 60,531 shares of the company’s stock worth $476,000 after purchasing an additional 6,305 shares during the last quarter. Allworth Financial LP boosted its position in SoFi Technologies by 29.3% during the 3rd quarter. Allworth Financial LP now owns 15,187 shares of the company’s stock valued at $119,000 after purchasing an additional 3,440 shares during the period. Mayfair Advisory Group LLC bought a new position in SoFi Technologies during the 3rd quarter worth $102,000. Finally, Trueblood Wealth Management LLC increased its position in SoFi Technologies by 30.4% in the third quarter. Trueblood Wealth Management LLC now owns 28,824 shares of the company’s stock worth $227,000 after buying an additional 6,721 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SOFI. Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods cut their price target 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 reiterated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Barclays lowered their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $9.33.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock worth $904,677 over the last 90 days. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Down 6.4 %

Shares of SoFi Technologies stock opened at $10.47 on Wednesday. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $11.34. The firm 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. The stock’s fifty day moving average is $8.45 and its 200-day moving average is $7.48.

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

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.