SoFi Technologies, Inc. (NASDAQ:SOFI) Stake Lowered by Axim Planning & Wealth

Axim Planning & Wealth decreased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 32,918 shares of the company’s stock after selling 3,840 shares during the period. SoFi Technologies accounts for 0.3% of Axim Planning & Wealth’s portfolio, making the stock its 22nd largest position. Axim Planning & Wealth’s holdings in SoFi Technologies were worth $259,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SOFI. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies during the third quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC raised its stake in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares in the last quarter. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the 3rd quarter worth $39,000. GAMMA Investing LLC grew its stake in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies during the third quarter valued at $47,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

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

Insider Activity

In related news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction on Friday, September 20th. The stock was 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 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. 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 worth $904,677 in the last 90 days. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 2.3 %

SoFi Technologies stock opened at $13.50 on Thursday. The company has a 50 day moving average price of $9.44 and a 200 day moving average price of $7.85. 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, Inc. has a 52 week low of $6.01 and a 52 week high of $14.44. The firm has a market capitalization of $14.39 billion, a price-to-earnings ratio of 135.01, a P/E/G ratio of 2.30 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s revenue was up 29.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.03) earnings per share. Research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

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.