Good Life Advisors LLC Reduces Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Good Life Advisors LLC reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,913 shares of the company’s stock after selling 2,878 shares during the quarter. Good Life Advisors LLC’s holdings in SoFi Technologies were worth $368,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FNY Investment Advisers LLC lifted its holdings in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the third quarter valued at approximately $28,000. Waldron Private Wealth LLC purchased a new position in shares of SoFi Technologies during the third quarter valued at approximately $39,000. Finally, AdvisorNet Financial Inc boosted its position in SoFi Technologies by 63.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after acquiring an additional 2,130 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the subject of several analyst reports. UBS Group boosted their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Mizuho upped their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Finally, Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average target price of $12.50.

Insider Activity

In other SoFi Technologies 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 value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the completion of the transaction, the executive vice president now directly owns 178,811 shares of the company’s stock, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,999,280 shares of company stock worth $416,810,442. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Price Performance

SOFI opened at $15.56 on Friday. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The company has a 50 day moving average of $15.73 and a two-hundred day moving average of $12.13. The company has a market cap of $16.88 billion, a P/E ratio of 42.05, a P/E/G ratio of 2.43 and a beta of 1.77. 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 quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping 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 quarter in the previous year, the business posted $0.04 earnings per share. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

About SoFi Technologies

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.