SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Prentice Capital Management LP

Prentice Capital Management LP trimmed its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 20.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 199,581 shares of the company’s stock after selling 50,536 shares during the period. SoFi Technologies makes up about 5.3% of Prentice Capital Management LP’s holdings, making the stock its 7th largest holding. Prentice Capital Management LP’s holdings in SoFi Technologies were worth $3,074,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $27,000. Hollencrest Capital Management acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $31,000. FNY Investment Advisers LLC raised its position 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 during the last quarter. IAG Wealth Partners LLC acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC raised its position in shares of SoFi Technologies by 116.3% during the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company’s stock worth $48,000 after purchasing an additional 1,744 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They set a “market outperform” rating and a $17.00 price objective for the company. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. Citizens Jmp initiated coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an “outperform” rating and a $17.00 price objective for the company. Barclays boosted their price objective on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 30th. Finally, Dbs Bank raised shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Three research analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average price target of $14.38.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total transaction of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,172 shares of company stock worth $1,271,115. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Stock Down 1.8%

Shares of SoFi Technologies stock opened at $14.03 on Thursday. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market cap of $15.38 billion, a price-to-earnings ratio of 37.92, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. The company has a fifty day moving average price of $11.97 and a 200 day moving average price of $13.90.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.02 EPS. Equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

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.