Hourglass Capital LLC Lowers Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Hourglass Capital LLC trimmed its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 38.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,000 shares of the company's stock after selling 25,000 shares during the quarter. Hourglass Capital LLC's holdings in SoFi Technologies were worth $616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the 3rd quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $28,000. FNY Investment Advisers LLC grew its holdings in shares of SoFi Technologies by 727.1% in the fourth 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. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $47,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total value of $156,708.12. Following the transaction, the executive vice president now owns 178,811 shares of the company's stock, valued at $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Eric Schuppenhauer bought 30,600 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the purchase, the executive vice president now owns 46,105 shares of the company's stock, valued at $753,355.70. The trade was a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 25,999,280 shares of company stock valued at $416,810,442 over the last 90 days. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on SOFI shares. Keefe, Bruyette & Woods reaffirmed an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Jefferies Financial Group upped their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the company a "neutral" rating in a report on Monday, December 2nd. Morgan Stanley upped their price objective on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research note on Thursday, December 19th. Finally, Bank of America reiterated an "underperform" rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and an average target price of $12.50.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock traded down $0.65 during trading on Wednesday, hitting $16.18. The stock had a trading volume of 35,291,450 shares, compared to its average volume of 43,912,012. The firm has a market cap of $17.56 billion, a price-to-earnings ratio of 43.73, a P/E/G ratio of 2.34 and a beta of 1.77. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The business's 50-day moving average is $15.74 and its 200 day moving average is $12.11.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the firm earned $0.04 EPS. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share 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.