SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. lessened its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 8.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,250 shares of the company’s stock after selling 1,155 shares during the period. Raymond James Trust N.A.’s holdings in SoFi Technologies were worth $104,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Marshall Wace LLP raised its stake in SoFi Technologies by 130.0% during the 2nd 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after acquiring an additional 2,688,847 shares during the last quarter. Mizuho Markets Americas LLC boosted its stake in SoFi Technologies by 403.4% in the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after acquiring an additional 2,440,745 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of SoFi Technologies by 905.2% during the first quarter. Cetera Investment Advisers now owns 779,982 shares of the company’s stock worth $5,694,000 after purchasing an additional 702,385 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 4.1 %

NASDAQ SOFI opened at $16.12 on Friday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $17.49 billion, a P/E ratio of 161.20, a P/E/G ratio of 2.61 and a beta of 1.60. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $16.16. The firm has a 50-day moving average price of $10.90 and a 200 day moving average price of $8.40.

SoFi Technologies (NASDAQ:SOFI) last issued its 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. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the business posted ($0.03) EPS. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Mizuho lifted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group increased their price target 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. Finally, Needham & Company LLC lifted their price objective 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.80.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 11.55 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 96,287 shares of company stock worth $863,250. Corporate insiders own 2.60% of the company’s stock.

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.