Algert Global LLC Sells 15,300 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Algert Global LLC decreased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 271,486 shares of the company’s stock after selling 15,300 shares during the quarter. Algert Global LLC’s holdings in SoFi Technologies were worth $2,134,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in SOFI. CIBC Asset Management Inc boosted its stake in shares of SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC boosted its position in 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 purchasing an additional 1,000 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in SoFi Technologies by 3.3% in the third 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 in the last quarter. NBC Securities Inc. increased its position in shares of SoFi Technologies by 12.7% during the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock worth $75,000 after purchasing an additional 1,081 shares during the last quarter. Finally, Rosenberg Matthew Hamilton raised its stake in shares of SoFi Technologies by 11.4% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 12,026 shares of the company’s stock worth $95,000 after purchasing an additional 1,226 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $15.49 on Wednesday. The company has a market capitalization of $16.81 billion, a price-to-earnings ratio of 154.92, a PEG ratio of 2.59 and a beta of 1.60. 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 $16.09. The stock’s 50 day moving average is $10.59 and its 200-day moving average is $8.28.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during 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 firm’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction on 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 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 96,287 shares of company stock worth $863,250. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the topic of a number of recent analyst reports. The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on shares of 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 raised their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $9.80.

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.