SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 22.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 148,710 shares of the company's stock after selling 43,906 shares during the quarter. Van ECK Associates Corp's holdings in SoFi Technologies were worth $2,290,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Blue Trust Inc. boosted its stake in SoFi Technologies by 67.9% in the third quarter. Blue Trust Inc. now owns 13,606 shares of the company's stock valued at $107,000 after acquiring an additional 5,504 shares in the last quarter. Raymond James & Associates boosted its stake in SoFi Technologies by 2.1% in the third quarter. Raymond James & Associates now owns 531,363 shares of the company's stock valued at $4,177,000 after acquiring an additional 11,062 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in SoFi Technologies in the third quarter valued at approximately $137,000. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies in the third quarter valued at approximately $39,000. Finally, International Assets Investment Management LLC boosted its stake in SoFi Technologies by 1,159.5% in the third quarter. International Assets Investment Management LLC now owns 346,673 shares of the company's stock valued at $2,725,000 after acquiring an additional 319,148 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SOFI shares. The Goldman Sachs Group raised their target price on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research note on Tuesday, January 28th. William Blair restated an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Morgan Stanley lifted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, December 19th. Jefferies Financial Group lifted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a "buy" rating in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $12.50.

SoFi Technologies Stock Performance

SOFI traded down $0.89 on Friday, reaching $14.67. The stock had a trading volume of 54,520,515 shares, compared to its average volume of 44,443,715. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business's 50-day moving average price is $15.73 and its two-hundred day moving average price is $12.13. The company has a market cap of $15.92 billion, a P/E ratio of 39.65, a price-to-earnings-growth ratio of 2.33 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data 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 net margin of 18.64% and a return on equity of 3.82%. During the same period in the previous year, the business earned $0.04 earnings per share. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Eric Schuppenhauer acquired 30,600 shares of the business's stock in a transaction on Monday, December 16th. The stock was bought at an average price of $16.34 per share, with a total value of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares of the company's stock, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the business's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now directly owns 187,725 shares of the company's stock, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,999,280 shares of company stock valued at $416,810,442. Corporate insiders own 2.60% of the company's stock.

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.