SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Zacks Investment Management

Zacks Investment Management lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 477,206 shares of the company’s stock after selling 1,974 shares during the quarter. Zacks Investment Management’s holdings in SoFi Technologies were worth $7,349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SOFI. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $27,000. Hollencrest Capital Management purchased a new position in SoFi Technologies in the fourth quarter worth approximately $31,000. FNY Investment Advisers LLC increased its stake in SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at $38,000. Finally, Legacy Investment Solutions LLC lifted its stake in shares of SoFi Technologies by 116.3% in the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company’s stock valued at $48,000 after purchasing an additional 1,744 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 2.6 %

NASDAQ:SOFI opened at $10.66 on Thursday. The company has a market capitalization of $11.69 billion, a PE ratio of 28.81, a P/E/G ratio of 2.24 and a beta of 1.86. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The stock’s 50 day moving average price is $12.76 and its 200 day moving average price is $13.44. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last announced 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 net margin of 18.64% and a return on equity of 3.82%. During the same period in the previous year, the business posted $0.04 EPS. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $1,308,075 in the last quarter. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SOFI. UBS Group boosted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Finally, The Goldman Sachs Group lifted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average target price of $12.50.

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.