Future Financial Wealth Managment LLC Decreases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Future Financial Wealth Managment LLC cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.7% in the fourth quarter, HoldingsChannel reports. The firm owned 13,500 shares of the company’s stock after selling 1,610 shares during the quarter. Future Financial Wealth Managment LLC’s holdings in SoFi Technologies were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp increased its position in SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock valued at $141,974,000 after acquiring an additional 310,532 shares during the period. Geode Capital Management LLC increased its position in SoFi Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after purchasing an additional 358,806 shares during the period. Dimensional Fund Advisors LP increased its position in SoFi Technologies by 263.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares during the period. Marshall Wace LLP increased its position in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 1.7 %

NASDAQ SOFI traded down $0.24 during trading hours on Monday, hitting $13.91. The company had a trading volume of 21,941,228 shares, compared to its average volume of 38,909,664. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $17.19. The company has a market capitalization of $15.09 billion, a price-to-earnings ratio of 139.11, a P/E/G ratio of 2.70 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm’s 50 day moving average is $14.96 and its 200 day moving average is $10.38.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.03) EPS. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Eric Schuppenhauer purchased 30,600 shares of SoFi Technologies stock in a transaction dated Monday, December 16th. The shares were acquired at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the transaction, the executive vice president now owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. The trade was a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,009,264 shares of company stock valued at $416,889,795 in the last ninety days. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of several research analyst reports. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Keefe, Bruyette & Woods restated an “underperform” rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Jefferies Financial Group upped their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Finally, Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.13.

SoFi Technologies Company 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.