Hourglass Capital LLC Reduces Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Hourglass Capital LLC trimmed its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 38.5% during the 4th quarter, HoldingsChannel.com reports. The firm owned 40,000 shares of the company’s stock after selling 25,000 shares during the quarter. Hourglass Capital LLC’s holdings in SoFi Technologies were worth $616,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Strategic Financial Concepts LLC purchased a new position in SoFi Technologies in the 4th quarter worth about $169,000. Allworth Financial LP grew its stake in SoFi Technologies by 494.3% in the 4th quarter. Allworth Financial LP now owns 90,256 shares of the company’s stock worth $1,390,000 after acquiring an additional 75,069 shares in the last quarter. Nations Financial Group Inc. IA ADV purchased a new position in shares of SoFi Technologies during the fourth quarter worth approximately $4,561,000. Rhumbline Advisers raised its stake in shares of SoFi Technologies by 3.8% during the fourth quarter. Rhumbline Advisers now owns 1,033,602 shares of the company’s stock valued at $15,917,000 after acquiring an additional 37,892 shares in the last quarter. Finally, Walkner Condon Financial Advisors LLC boosted its holdings in shares of SoFi Technologies by 8.1% in the fourth quarter. Walkner Condon Financial Advisors LLC now owns 36,355 shares of the company’s stock valued at $560,000 after purchasing an additional 2,735 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SOFI. Barclays lifted their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. 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 report on Tuesday, January 28th. Jefferies Financial Group increased their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were 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 $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 in the last 90 days. Insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $16.21 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market capitalization of $17.59 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 2.04 and a beta of 1.77. The stock’s 50-day simple moving average is $15.69 and its 200-day simple moving average is $11.91.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm posted $0.04 EPS. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal 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.