Townsquare Capital LLC Trims Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Townsquare Capital LLC reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 17.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 765,397 shares of the company's stock after selling 163,049 shares during the period. Townsquare Capital LLC owned 0.07% of SoFi Technologies worth $11,787,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of SOFI. Vanguard Group Inc. raised its holdings in shares of SoFi Technologies by 9.9% in the fourth quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after buying an additional 8,898,879 shares during the last quarter. State Street Corp lifted its position in SoFi Technologies by 1.7% during the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company's stock worth $141,974,000 after acquiring an additional 310,532 shares during the period. Geode Capital Management LLC grew its stake in SoFi Technologies by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after purchasing an additional 315,899 shares during the last quarter. Norges Bank acquired a new stake in shares of SoFi Technologies during the fourth quarter worth about $103,678,000. Finally, Charles Schwab Investment Management Inc. boosted its position in SoFi Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock valued at $97,230,000 after buying an additional 167,780 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Needham & Company LLC lifted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. Keefe, Bruyette & Woods reiterated an "underperform" rating and issued a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Finally, William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a report on Friday, January 24th. Four 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.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $12.50.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now owns 226,210 shares of the company's stock, valued at $2,877,391.20. This trade represents a 4.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction that occurred on 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 approximately $8,280,691.52. This represents a 9.48 % 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 worth $1,308,075 in the last ninety days. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Trading Up 3.4 %

NASDAQ:SOFI traded up $0.36 during trading hours on Thursday, reaching $11.02. 27,421,675 shares of the stock were exchanged, compared to its average volume of 49,183,969. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The business has a 50-day moving average of $12.76 and a two-hundred day moving average of $13.44. The company has a market capitalization of $12.08 billion, a price-to-earnings ratio of 29.78, a PEG ratio of 2.24 and a beta of 1.86. 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 (NASDAQ:SOFI - Get Free Report) last released 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 period in the prior year, the company posted $0.04 earnings per share. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current 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.