SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Hourglass Capital LLC

Hourglass Capital LLC trimmed its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 41.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 65,000 shares of the company's stock after selling 46,000 shares during the period. Hourglass Capital LLC's holdings in SoFi Technologies were worth $511,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company's stock valued at $604,632,000 after purchasing an additional 1,366,271 shares during the period. 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 institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SOFI. 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. Citigroup cut shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, October 18th. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective 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. Finally, Needham & Company LLC boosted their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $9.32.

SoFi Technologies Stock Performance

Shares of SOFI stock traded up $0.14 during mid-day trading on Thursday, hitting $13.64. 31,757,051 shares of the stock were exchanged, compared to its average volume of 47,524,941. The stock's fifty day simple moving average is $9.44 and its two-hundred day simple moving average is $7.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.21 and a current ratio of 0.49. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $14.44. The stock has a market capitalization of $14.54 billion, a price-to-earnings ratio of 134.11, a P/E/G ratio of 2.30 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. The company had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The firm's revenue was up 29.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.03) earnings per share. On average, analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company's stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Jeremy Rishel sold 68,081 shares of the firm's stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value 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 $4,234,620.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 24,939 shares of the firm's stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares of the company's stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,636 shares of company stock valued at $904,677. Insiders own 2.60% of the company's stock.

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.