SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Holdings Trimmed by Matisse Capital

Matisse Capital lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,038 shares of the company’s stock after selling 2,622 shares during the period. Matisse Capital’s holdings in SoFi Technologies were worth $575,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SOFI. GAMMA Investing LLC acquired a new position in SoFi Technologies in the fourth quarter worth $27,000. ORG Partners LLC bought a new position in SoFi Technologies during the 1st quarter worth $27,000. Allspring Global Investments Holdings LLC increased its position in SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after buying an additional 1,543 shares during the period. SOA Wealth Advisors LLC. boosted its holdings in shares of SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock valued at $33,000 after acquiring an additional 1,713 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new stake in SoFi Technologies in the 1st quarter valued at about $37,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on SOFI shares. Keefe, Bruyette & Woods decreased their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. BTIG Research initiated coverage on SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Barclays decreased their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $10.00 price objective on shares of SoFi Technologies in a research note on Wednesday, July 31st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $9.14.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now directly owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders sold a total of 19,921,285 shares of company stock worth $135,057,462 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Price Performance

SoFi Technologies stock traded down $0.04 during mid-day trading on Friday, hitting $7.99. The company’s stock had a trading volume of 40,858,722 shares, compared to its average volume of 46,143,652. The stock has a market capitalization of $8.45 billion, a P/E ratio of -25.77, a P/E/G ratio of 1.45 and a beta of 1.70. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $10.49. The stock’s fifty day moving average price is $7.02 and its two-hundred day moving average price is $7.24. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.01. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $565.19 million. During the same period in the previous year, the firm posted ($0.06) EPS. The company’s quarterly revenue was up 20.2% on a year-over-year basis. Research analysts forecast that SoFi Technologies, Inc. will post 0.1 earnings per share for the current 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.