SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC trimmed its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 41.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 65,000 shares of the company’s stock after selling 46,000 shares during the period. Hourglass Capital LLC’s holdings in SoFi Technologies were worth $511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC lifted its stake in SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares in the last quarter. GAMMA Investing LLC grew its holdings in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after buying an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in SoFi Technologies during the third quarter worth $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies in the third quarter worth $47,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 2.3 %

Shares of NASDAQ:SOFI opened at $13.50 on Thursday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $14.44. The stock has a 50-day simple moving average of $9.44 and a 200-day simple moving average of $7.85. The stock has a market capitalization of $14.39 billion, a P/E ratio of 135.01, a PEG ratio of 2.30 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The company 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 company’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) earnings per share. Equities analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of analyst reports. Needham & Company LLC increased their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Barclays raised their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $9.32.

Insider Buying and Selling

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the transaction, the executive vice president now directly owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares in the company, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction that occurred 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 sale, the chief technology officer now owns 521,505 shares of the company’s stock, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock valued at $904,677 in the last quarter. Company insiders own 2.60% of the company’s stock.

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.