SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Position Lessened by Modus Advisors LLC

Modus Advisors LLC reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 43.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,039 shares of the company’s stock after selling 4,706 shares during the quarter. Modus Advisors LLC’s holdings in SoFi Technologies were worth $93,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SOFI. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies in the third quarter valued at approximately $27,000. Brooklyn Investment Group bought a new position in SoFi Technologies during the 3rd quarter valued at $28,000. Allspring Global Investments Holdings LLC increased its position in shares of SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies in the third quarter valued at $39,000. Finally, GAMMA Investing LLC boosted its stake in SoFi Technologies by 40.3% during the fourth quarter. GAMMA Investing LLC now owns 5,925 shares of the company’s stock valued at $91,000 after buying an additional 1,703 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SOFI. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays lifted their price target 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. Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given 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 $11.13.

SoFi Technologies Stock Up 2.3 %

Shares of NASDAQ:SOFI traded up $0.32 during trading on Friday, reaching $14.45. 10,755,206 shares of the company traded hands, compared to its average volume of 42,581,891. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19. The firm has a fifty day simple moving average of $14.52 and a 200 day simple moving average of $9.98. The firm has a market cap of $15.68 billion, a P/E ratio of 144.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share 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 analyst estimates of $631.59 million. During the same quarter last year, the firm earned ($0.03) earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies 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 sale, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock worth $416,889,795 over the last ninety days. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Profile

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.