MML Investors Services LLC Reduces Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

MML Investors Services LLC lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 18.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,208,060 shares of the company's stock after selling 281,872 shares during the period. MML Investors Services LLC owned 0.11% of SoFi Technologies worth $18,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berkshire Capital Holdings Inc. grew its holdings in shares of SoFi Technologies by 6,208,000.0% during 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 during the period. SBI Securities Co. Ltd. purchased a new position in SoFi Technologies during the fourth quarter worth about $3,703,000. Hanseatic Management Services Inc. purchased a new stake in shares of SoFi Technologies in the 4th 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, Baltimore Washington Financial Advisors Inc. boosted its position in shares of SoFi Technologies by 12.9% during the 4th quarter. Baltimore Washington Financial Advisors Inc. now owns 592,930 shares of the company's stock worth $9,131,000 after purchasing an additional 67,779 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,185 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the sale, the executive vice president now owns 169,626 shares in the company, valued at approximately $2,617,329.18. This represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 100,172 shares of company stock worth $1,271,115 in the last quarter. Company insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

SOFI has been the topic of a number of research reports. Citizens Jmp assumed coverage on SoFi Technologies in a research note on Friday. They set an "outperform" rating and a $17.00 price target on the stock. UBS Group raised their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a "neutral" rating in a report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Finally, Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus price target of $13.10.

SoFi Technologies Stock Up 4.6 %

Shares of SOFI traded up $0.57 during mid-day trading on Friday, reaching $12.88. The company's stock had a trading volume of 70,369,645 shares, compared to its average volume of 46,597,606. 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 12-month low of $6.01 and a 12-month high of $18.42. The company's 50 day moving average is $12.20 and its 200 day moving average is $13.61. The stock has a market cap of $14.12 billion, a PE ratio of 34.81, a price-to-earnings-growth ratio of 2.24 and a beta of 1.86.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping 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 in the previous year, the company posted $0.04 earnings per share. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.