IFP Advisors Inc Sells 7,386 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

IFP Advisors Inc lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 103,561 shares of the company’s stock after selling 7,386 shares during the quarter. IFP Advisors Inc’s holdings in SoFi Technologies were worth $1,595,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FNY Investment Advisers LLC grew its holdings in shares of SoFi Technologies by 727.1% during the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in SoFi Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. AdvisorNet Financial Inc raised its holdings in shares of SoFi Technologies by 63.5% in the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock valued at $84,000 after purchasing an additional 2,130 shares during the last quarter. Finally, SOA Wealth Advisors LLC. lifted its position in shares of SoFi Technologies by 33.1% in the fourth quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company’s stock worth $87,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 64,991 shares of the company’s stock in a transaction dated 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 directly owns 586,494 shares in the company, valued at approximately $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now directly owns 187,725 shares in the company, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,008,465 shares of company stock valued at $416,952,167. Insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on SOFI. UBS Group raised their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Citigroup boosted their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Finally, Morgan Stanley increased their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Price Performance

Shares of SOFI opened at $14.47 on Thursday. The company’s 50-day moving average is $15.58 and its 200-day moving average is $12.39. 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 has a market capitalization of $15.70 billion, a PE ratio of 39.11, a PEG ratio of 2.24 and a beta of 1.78. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating 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 period in the previous year, the company posted $0.04 EPS. Equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS 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.