SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Caprock Group LLC

Caprock Group LLC reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.5% in the third quarter, HoldingsChannel reports. The fund owned 727,113 shares of the company’s stock after selling 11,196 shares during the quarter. Caprock Group LLC’s holdings in SoFi Technologies were worth $5,715,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pathstone Holdings LLC boosted its stake in SoFi Technologies by 13.2% during the 3rd quarter. Pathstone Holdings LLC now owns 192,057 shares of the company’s stock valued at $1,510,000 after purchasing an additional 22,426 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of SoFi Technologies by 11.5% in the third quarter. Drive Wealth Management LLC now owns 39,350 shares of the company’s stock valued at $309,000 after buying an additional 4,063 shares during the period. Claro Advisors LLC boosted its stake in SoFi Technologies by 40.0% during the third quarter. Claro Advisors LLC now owns 25,550 shares of the company’s stock valued at $201,000 after buying an additional 7,304 shares in the last quarter. Mount Lucas Management LP acquired a new position in SoFi Technologies during the third quarter worth about $920,000. Finally, River Street Advisors LLC raised its position in SoFi Technologies by 21.7% in the third quarter. River Street Advisors LLC now owns 57,369 shares of the company’s stock worth $451,000 after acquiring an additional 10,223 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 111,636 shares of company stock valued at $904,677. Insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SOFI. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group upped their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $9.40.

SoFi Technologies Trading Up 2.2 %

Shares of NASDAQ SOFI opened at $13.93 on Tuesday. The business has a 50 day simple moving average of $9.84 and a 200 day simple moving average of $8.00. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $14.44. The stock has a market cap of $15.12 billion, a price-to-earnings ratio of 139.31, a PEG ratio of 2.27 and a beta of 1.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the prior year, the company posted ($0.03) earnings per share. SoFi Technologies’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, research analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share 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.