AlphaStar Capital Management LLC Sells 453,652 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

AlphaStar Capital Management LLC reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 60.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,446 shares of the company's stock after selling 453,652 shares during the quarter. SoFi Technologies makes up about 0.5% of AlphaStar Capital Management LLC's investment portfolio, making the stock its 29th biggest holding. AlphaStar Capital Management LLC's holdings in SoFi Technologies were worth $4,611,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of SOFI. Hanseatic Management Services Inc. bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $1,116,000. Kercheville Advisors LLC acquired a new position in SoFi Technologies in the fourth quarter valued at approximately $1,594,000. Charles Schwab Investment Management Inc. grew its holdings in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company's stock valued at $48,306,000 after purchasing an additional 87,097 shares during the last quarter. Zacks Investment Management acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $3,766,000. Finally, Citizens Financial Group Inc. RI lifted its holdings in shares of SoFi Technologies by 41.5% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 240,735 shares of the company's stock worth $1,892,000 after purchasing an additional 70,603 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Trading Down 0.4 %

NASDAQ SOFI traded down $0.06 on Wednesday, hitting $14.77. 33,507,760 shares of the company were exchanged, compared to its average volume of 43,436,063. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The firm has a market capitalization of $16.03 billion, a P/E ratio of 39.92, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. The company's 50 day moving average price is $15.73 and its 200-day moving average price is $11.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the company earned $0.04 EPS. Analysts predict that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO Jeremy Rishel sold 64,991 shares of the business's stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the transaction, the chief technology officer now directly owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the executive vice president now owns 178,811 shares of the company's stock, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 over the last quarter. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on SOFI shares. Barclays upped their price objective on SoFi Technologies from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Mizuho upped their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 19th. Finally, Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently 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.