Private Advisor Group LLC Sells 87,792 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Private Advisor Group LLC cut its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 24.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 277,544 shares of the company’s stock after selling 87,792 shares during the quarter. Private Advisor Group LLC’s holdings in SoFi Technologies were worth $4,274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. boosted its position in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in SoFi Technologies during the 3rd quarter valued at $16,014,000. Zacks Investment Management acquired a new position in shares of SoFi Technologies in the third quarter valued at $3,766,000. Point72 DIFC Ltd acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth about $3,219,000. Finally, Rockefeller Capital Management L.P. raised its holdings in SoFi Technologies by 20.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock valued at $17,365,000 after acquiring an additional 376,899 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $15.59, for a total value of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,465 shares of company stock worth $416,952,167 over the last quarter. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 5.7 %

SOFI opened at $14.67 on Monday. The business’s fifty day simple moving average is $15.70 and its 200 day simple moving average is $12.27. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market cap of $15.92 billion, a PE ratio of 39.65, a P/E/G ratio of 2.24 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter last year, the business posted $0.04 EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. UBS Group lifted their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Citigroup increased their target price on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Finally, Barclays upped their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

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.