Virtu Financial LLC Reduces Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Virtu Financial LLC reduced its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 57.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 89,430 shares of the company's stock after selling 120,348 shares during the period. Virtu Financial LLC's holdings in SoFi Technologies were worth $1,377,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the 4th quarter worth $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies in the third quarter valued at approximately $28,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $31,000. FNY Investment Advisers LLC raised its position in SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after acquiring an additional 1,905 shares in the last quarter. Finally, IAG Wealth Partners LLC acquired a new stake in SoFi Technologies in the fourth quarter valued at $38,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total value of $156,708.12. Following the completion of the sale, the executive vice president now owns 178,811 shares of the company's stock, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at approximately $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,905 shares of company stock worth $1,308,075 over the last ninety days. 2.60% of the stock is owned by company insiders.

Remove Ads

SoFi Technologies Trading Down 1.3 %

NASDAQ:SOFI traded down $0.18 during trading hours on Tuesday, reaching $13.55. 30,122,345 shares of the company were exchanged, compared to its average volume of 44,572,179. The firm has a market cap of $14.85 billion, a price-to-earnings ratio of 36.55, a PEG ratio of 2.24 and a beta of 1.79. The stock has a 50 day simple moving average of $14.66 and a 200 day simple moving average of $13.10. 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 current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates 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 company earned $0.04 EPS. As a group, analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analysts Set New Price Targets

SOFI has been the subject of a number of research analyst reports. Bank of America reiterated an "underperform" rating and issued a $12.00 price target on shares of SoFi Technologies in a report on Monday, December 9th. The Goldman Sachs Group raised their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Needham & Company LLC increased their target price on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a report on Tuesday, January 28th. Finally, UBS Group boosted their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $12.50.

About SoFi Technologies

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.