B. Riley Wealth Advisors Inc. Decreases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

B. Riley Wealth Advisors Inc. trimmed its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 85.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,017 shares of the company’s stock after selling 92,926 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in SoFi Technologies were worth $126,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Captrust Financial Advisors lifted its holdings in shares of SoFi Technologies by 2.8% during the third quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after purchasing an additional 809 shares in the last quarter. Summit Trail Advisors LLC raised its position in SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after buying an additional 855 shares during the last quarter. CIBC Asset Management Inc lifted its stake in SoFi Technologies by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after acquiring an additional 962 shares during the period. Oak Harbor Wealth Partners LLC boosted its holdings in shares of SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $15.35 on Monday. The company has a market capitalization of $16.66 billion, a P/E ratio of 153.52, a P/E/G ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19. The firm’s 50 day simple moving average is $13.55 and its two-hundred day simple moving average is $9.45. 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) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period last year, the firm earned ($0.03) EPS. The company’s revenue was up 29.8% on a year-over-year basis. Research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SOFI. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Jefferies Financial Group increased 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $11.04.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,000,350 shares of company stock valued at $416,750,826 over the last 90 days. Company 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.