Commonwealth Equity Services LLC Sells 157,076 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Commonwealth Equity Services LLC lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 24.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in SOFI. SBI Securities Co. Ltd. purchased a new position in SoFi Technologies in the fourth quarter worth $3,703,000. Hanseatic Management Services Inc. purchased a new position in shares of SoFi Technologies in the 4th quarter worth about $1,116,000. Kercheville Advisors LLC bought a new position in SoFi Technologies during the fourth quarter valued at about $1,594,000. Charles Schwab Investment Management Inc. increased its holdings in SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after buying an additional 87,097 shares during the last quarter. Finally, Zacks Investment Management bought a new stake in SoFi Technologies in the third quarter worth about $3,766,000. 38.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction that occurred on Thursday, February 20th. The shares were 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 of the company's stock, valued at approximately $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. Insiders have sold 97,905 shares of company stock worth $1,308,075 in the last ninety days. 2.60% of the stock is currently owned by insiders.

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SoFi Technologies Price Performance

NASDAQ:SOFI traded up $0.85 during mid-day trading on Monday, hitting $13.72. 58,668,726 shares of the stock traded hands, compared to its average volume of 44,571,995. The business's 50-day moving average price is $14.67 and its 200 day moving average price is $13.05. 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 company has a market cap of $15.04 billion, a PE ratio of 37.08, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly 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 net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the company posted $0.04 earnings per share. On average, analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SOFI. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a research report on Monday, December 2nd. Needham & Company LLC boosted their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. The Goldman Sachs Group increased their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research note on Tuesday, January 28th. Citigroup boosted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Finally, Bank of America reiterated an "underperform" rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $12.50.

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.