LPL Financial LLC Has $24.69 Million Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

LPL Financial LLC cut its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,603,340 shares of the company's stock after selling 22,451 shares during the period. LPL Financial LLC owned approximately 0.15% of SoFi Technologies worth $24,691,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Berkshire Capital Holdings Inc. increased its stake in SoFi Technologies by 6,208,000.0% in the 4th quarter. Berkshire Capital Holdings Inc. now owns 620,810 shares of the company's stock worth $9,560,000 after purchasing an additional 620,800 shares in the last quarter. SBI Securities Co. Ltd. purchased a new position in shares of SoFi Technologies in the fourth quarter worth approximately $3,703,000. Hanseatic Management Services Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at approximately $1,116,000. Kercheville Advisors LLC purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $1,594,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in SoFi Technologies by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock worth $48,306,000 after purchasing an additional 87,097 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SOFI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued an "underperform" rating and set a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Morgan Stanley upped their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an "underweight" rating in a research report on Thursday, December 19th. Needham & Company LLC increased their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Citigroup lifted their target price on SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research note on Tuesday, January 14th. Finally, UBS Group increased their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $12.50.

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SoFi Technologies Stock Down 13.6 %

SOFI stock traded down $1.67 during trading hours on Thursday, hitting $10.64. The company's stock had a trading volume of 73,016,732 shares, compared to its average volume of 45,291,700. The company has a market capitalization of $11.67 billion, a PE ratio of 28.76, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The stock has a 50 day moving average price of $13.95 and a two-hundred day moving average price of $13.29. The company has a quick ratio of 0.18, a current ratio of 0.49 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.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Monday, January 27th. 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 3.82% and a net margin of 18.64%. During the same quarter last year, the company earned $0.04 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction dated Thursday, March 20th. The shares were 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 in the company, valued at $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the transaction, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,905 shares of company stock valued at $1,308,075 over the last 90 days. 2.60% of the stock is currently owned by company insiders.

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.