SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Kovack Advisors Inc.

Kovack Advisors Inc. decreased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 40.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 80,540 shares of the company's stock after selling 54,479 shares during the period. Kovack Advisors Inc.'s holdings in SoFi Technologies were worth $633,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 1.7% during the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company's stock worth $604,632,000 after purchasing an additional 1,366,271 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of SoFi Technologies by 263.3% in the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock worth $86,478,000 after acquiring an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of SoFi Technologies by 6.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company's stock worth $75,737,000 after acquiring an additional 690,638 shares during the period. Marshall Wace LLP raised its stake in shares of SoFi Technologies by 130.0% in the second quarter. Marshall Wace LLP now owns 6,357,887 shares of the company's stock valued at $42,026,000 after acquiring an additional 3,593,464 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in SoFi Technologies by 16.6% in the second quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company's stock valued at $20,604,000 after purchasing an additional 443,198 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI traded down $0.10 during trading hours on Thursday, reaching $13.40. The stock had a trading volume of 45,883,920 shares, compared to its average volume of 47,588,184. The firm has a 50-day moving average of $9.57 and a 200-day moving average of $7.89. The firm has a market cap of $14.28 billion, a price-to-earnings ratio of 134.01, a PEG ratio of 2.30 and a beta of 1.60. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $14.44.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the company earned ($0.03) earnings per share. The company's revenue was up 29.8% compared to the same quarter last year. Equities research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays upped their price target 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 raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a report on Tuesday, October 29th. Citigroup cut shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group increased their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $9.32.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 9,308 shares of the firm's stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the transaction, the executive vice president now owns 161,511 shares of the company's stock, valued at $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company's stock, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,636 shares of company stock worth $904,677. 2.60% of the stock is owned by company insiders.

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.