Edgestream Partners L.P. Reduces Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Edgestream Partners L.P. lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 68.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,721 shares of the company’s stock after selling 277,556 shares during the period. Edgestream Partners L.P.’s holdings in SoFi Technologies were worth $1,952,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. FNY Investment Advisers LLC lifted its position in shares of SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after buying an additional 1,905 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter valued at $28,000. AdvisorNet Financial Inc raised its stake in shares of SoFi Technologies by 63.5% during the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock valued at $84,000 after purchasing an additional 2,130 shares during the period. Finally, SOA Wealth Advisors LLC. raised its stake in shares of SoFi Technologies by 33.1% during the 4th quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company’s stock valued at $87,000 after purchasing an additional 1,400 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of analyst reports. Citigroup boosted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Mizuho boosted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Needham & Company LLC boosted 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. Finally, Bank of America restated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $12.50.

Insider Activity

In related news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares in the company, valued at $415,510.74. This represents a 66.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares of the company’s stock, valued at $9,219,685.68. This represents a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,004 shares of company stock worth $2,292,100. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $12.59 on Monday. 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 firm has a market capitalization of $13.81 billion, a PE ratio of 34.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The business’s 50-day moving average price is $15.24 and its 200-day moving average price is $12.74. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS 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 quarter last year, the firm posted $0.04 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.