Prospera Financial Services Inc Sells 1,520 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Prospera Financial Services Inc lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 95,963 shares of the company’s stock after selling 1,520 shares during the quarter. Prospera Financial Services Inc’s holdings in SoFi Technologies were worth $754,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Asset Management Inc increased its stake in shares of SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after buying an additional 962 shares during the period. Oak Harbor Wealth Partners LLC increased its stake in shares of SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after buying an additional 1,000 shares during the period. Stratos Wealth Advisors LLC increased its stake in shares of SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the period. NBC Securities Inc. increased its stake in shares of SoFi Technologies by 12.7% during the third quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after buying an additional 1,081 shares during the period. Finally, Rosenberg Matthew Hamilton increased its stake in shares of SoFi Technologies by 11.4% during the third quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock valued at $95,000 after buying an additional 1,226 shares during the period. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SOFI. 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 research note on Wednesday, October 30th. Barclays upped their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Needham & Company LLC upped 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, Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.80.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of SoFi Technologies stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,287 shares of company stock valued at $863,250 over the last ninety days. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Trading Up 3.9 %

SoFi Technologies stock opened at $15.60 on Friday. 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 business’s fifty day simple moving average is $10.44 and its two-hundred day simple moving average is $8.20. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $15.75. The company has a market capitalization of $16.93 billion, a price-to-earnings ratio of 156.02, a price-to-earnings-growth ratio of 2.40 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate 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 for the quarter was up 29.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.03) earnings per share. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal 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.