Ardmore Road Asset Management LP Trims Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Ardmore Road Asset Management LP cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 37.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 500,000 shares of the company's stock after selling 300,000 shares during the quarter. Ardmore Road Asset Management LP's holdings in SoFi Technologies were worth $7,700,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SOFI. CIBC Private Wealth Group LLC grew its position in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after buying an additional 685 shares during the period. Captrust Financial Advisors increased its position in shares of SoFi Technologies by 2.8% in the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company's stock valued at $233,000 after buying an additional 809 shares in the last quarter. Procyon Advisors LLC increased its position in shares of SoFi Technologies by 8.0% in the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after buying an additional 1,000 shares in the last quarter. Game Plan Financial Advisors LLC raised its stake in shares of SoFi Technologies by 13.9% during the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after buying an additional 1,000 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in shares of SoFi Technologies by 33.3% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock valued at $68,000 after buying an additional 1,100 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

Insider Activity

In other news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares in the company, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the company's stock in a transaction that occurred on 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 $2,617,329.18. The trade was a 5.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,905 shares of company stock valued at $1,308,075. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Trading Down 10.1 %

Shares of SoFi Technologies stock traded down $1.07 on Friday, reaching $9.57. The company had a trading volume of 89,420,582 shares, compared to its average volume of 45,516,203. The firm's 50 day moving average price is $13.78 and its two-hundred day moving average price is $13.33. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The firm has a market cap of $10.49 billion, a PE ratio of 25.86, a PEG ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (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 last year, the business earned $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SOFI shares. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Needham & Company LLC raised their price target on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Bank of America reiterated an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a report on Monday, December 9th. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Finally, Morgan Stanley lifted their price target on SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and a consensus price target of $12.50.

SoFi Technologies 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.