Burney Co. Trims Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Burney Co. trimmed its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 43.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,679 shares of the company's stock after selling 79,680 shares during the period. Burney Co.'s holdings in SoFi Technologies were worth $1,566,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in SOFI. Charles Schwab Investment Management Inc. grew its stake in SoFi Technologies by 1.4% in the third 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 in the last quarter. Zacks Investment Management purchased a new stake in shares of SoFi Technologies in the 3rd quarter worth $3,766,000. Citizens Financial Group Inc. RI grew its position in shares of SoFi Technologies by 41.5% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after buying an additional 70,603 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company's stock valued at $30,971,000 after buying an additional 2,688,847 shares during the period. Finally, Qsemble Capital Management LP bought a new stake in shares of SoFi Technologies in the third quarter valued at about $930,000. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on SOFI shares. Morgan Stanley raised their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a report on Tuesday. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Finally, Bank of America reissued an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and a consensus target price of $11.71.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies 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 completion of the sale, the executive vice president now owns 142,613 shares of the company's stock, valued at $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Stock Up 1.2 %

Shares of SOFI traded up $0.20 during mid-day trading on Friday, hitting $16.50. 40,249,333 shares of the company traded hands, compared to its average volume of 40,023,070. The company has a market capitalization of $17.90 billion, a PE ratio of 165.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average of $15.25 and a 200 day moving average of $10.56. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. 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 net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same quarter in the prior year, the business posted ($0.03) EPS. SoFi Technologies's revenue for the quarter was up 29.8% compared to the same quarter last year. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.12 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.