Envestnet Asset Management Inc. Sells 69,507 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Envestnet Asset Management Inc. cut its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 34.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 129,394 shares of the company's stock after selling 69,507 shares during the quarter. Envestnet Asset Management Inc.'s holdings in SoFi Technologies were worth $1,993,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $27,000. Hollencrest Capital Management acquired a new position in shares of SoFi Technologies during the 4th quarter valued at about $31,000. FNY Investment Advisers LLC raised its stake in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after acquiring an additional 1,905 shares in the last quarter. IAG Wealth Partners LLC acquired a new position in SoFi Technologies during the fourth quarter valued at approximately $38,000. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of SoFi Technologies by 33.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock valued at $68,000 after purchasing an additional 1,100 shares during the period. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Price Performance

NASDAQ SOFI traded up $0.32 on Monday, hitting $13.20. 94,530,706 shares of the company were exchanged, compared to its average volume of 46,623,989. The company has a market cap of $14.47 billion, a P/E ratio of 35.68, a P/E/G ratio of 2.24 and a beta of 1.86. 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 firm has a 50 day moving average of $12.14 and a two-hundred day moving average of $13.71. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $0.04 earnings per share. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SOFI shares. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company 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 stock a "buy" rating in a research report on Tuesday, January 14th. UBS Group raised their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Four research analysts have rated the stock with a sell rating, six have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $13.10.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the sale, the chief technology officer now directly 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 document filed with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the transaction, the executive vice president now directly owns 226,210 shares in the company, valued at approximately $2,877,391.20. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock valued at $1,271,115 over the last three months. Company insiders own 2.60% of the company's stock.

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.