Commonwealth Equity Services LLC Has $7.35 Million Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Commonwealth Equity Services LLC lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 24.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 477,385 shares of the company’s stock after selling 157,076 shares during the period. Commonwealth Equity Services LLC’s holdings in SoFi Technologies were worth $7,352,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies in the fourth quarter valued at about $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies in the 3rd quarter valued at approximately $28,000. Hollencrest Capital Management bought a new stake in SoFi Technologies in the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC raised its stake in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC acquired a new position in SoFi Technologies in the 4th quarter valued at $38,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity

In other news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the transaction, the executive vice president now owns 178,811 shares in the company, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 27,013 shares of company stock worth $437,402 in the last quarter. 2.60% of the stock is owned by company insiders.

SoFi Technologies Trading Down 0.7 %

NASDAQ SOFI opened at $12.64 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 stock has a 50 day simple moving average of $14.70 and a two-hundred day simple moving average of $12.94. The stock has a market cap of $13.86 billion, a P/E ratio of 34.16, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Needham & Company LLC raised their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research note on Thursday, December 19th. UBS Group boosted their price objective on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Finally, Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.