SG Americas Securities LLC Sells 246,096 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

SG Americas Securities LLC lowered its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 70.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,236 shares of the company's stock after selling 246,096 shares during the period. SG Americas Securities LLC's holdings in SoFi Technologies were worth $827,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company's stock valued at $86,478,000 after buying an additional 9,482,683 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company's stock valued at $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Nikko Asset Management Americas Inc. raised its stake in shares of SoFi Technologies by 176.3% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company's stock worth $78,494,000 after buying an additional 6,870,610 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of SoFi Technologies by 6.6% in the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company's stock valued at $810,527,000 after buying an additional 5,057,233 shares during the period. Finally, Marshall Wace LLP boosted 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 buying an additional 3,593,464 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Up 4.4 %

NASDAQ SOFI traded up $0.38 during trading hours on Friday, hitting $9.01. The company had a trading volume of 42,833,262 shares, compared to its average volume of 45,334,410. The firm's 50 day moving average is $7.56 and its 200 day moving average is $7.23. The company has a market capitalization of $9.53 billion, a price-to-earnings ratio of -29.06, a P/E/G ratio of 1.72 and a beta of 1.70. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $10.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.01. The business had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The company's revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.06) earnings per share. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies 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 transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company's stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business's stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 102,328 shares of company stock worth $808,246. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on SOFI. Needham & Company LLC reiterated a "buy" rating and issued a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods decreased their price target on SoFi Technologies from $7.50 to $7.00 and set a "market perform" rating on the stock in a research note on Tuesday, July 9th. Finally, Barclays reduced their price objective on SoFi Technologies from $10.00 to $8.00 and set an "equal weight" rating for the company in a report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and a consensus target price of $9.08.

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.