Soltis Investment Advisors LLC Cuts Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Soltis Investment Advisors LLC lessened its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 62.3% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 43,880 shares of the company’s stock after selling 72,372 shares during the quarter. Soltis Investment Advisors LLC’s holdings in SoFi Technologies were worth $676,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SOFI. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at $27,000. Brooklyn Investment Group purchased a new stake in SoFi Technologies during the 3rd quarter worth about $28,000. FNY Investment Advisers LLC increased its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares during the period. Waldron Private Wealth LLC purchased a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in SoFi Technologies during the 3rd quarter worth about $47,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of the business’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the sale, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. The trade was a 66.72 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,008,870 shares of company stock worth $416,950,073. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOFI. UBS Group upped their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price target (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. The Goldman Sachs Group upped their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Finally, Bank of America reaffirmed an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $15.13 on Tuesday. 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 business has a 50 day moving average of $15.75 and a two-hundred day moving average of $11.72. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a market cap of $16.42 billion, a P/E ratio of 40.89, a PEG ratio of 2.04 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the company earned $0.04 earnings per share. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.27 EPS for the current year.

SoFi Technologies Company 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.