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

NewEdge Advisors LLC reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 31.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 164,000 shares of the company's stock after selling 75,094 shares during the quarter. NewEdge Advisors LLC's holdings in SoFi Technologies were worth $2,526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $27,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies in the 4th quarter worth $31,000. FNY Investment Advisers LLC grew its position in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after buying an additional 1,905 shares in the last quarter. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies during the fourth quarter valued at $38,000. Finally, Legacy Investment Solutions LLC raised its holdings in shares of SoFi Technologies by 116.3% in the fourth quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock valued at $48,000 after acquiring an additional 1,744 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock traded up $0.50 during trading on Wednesday, hitting $11.77. 56,425,374 shares of the company's stock were exchanged, compared to its average volume of 46,395,391. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a market capitalization of $12.90 billion, a price-to-earnings ratio of 31.80, a PEG ratio of 2.24 and a beta of 1.86. The business has a 50-day simple moving average of $12.44 and a 200-day simple moving average of $13.56.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data 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 return on equity of 3.82% and a net margin of 18.64%. During the same period in the previous year, the firm posted $0.04 earnings per share. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,181 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the transaction, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction on 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 sale, the chief technology officer now directly 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 position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 100,172 shares of company stock valued at $1,271,115. Corporate insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on SOFI shares. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. UBS Group lifted their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Finally, Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the stock a "buy" rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target 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.