SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Spire Wealth Management

Spire Wealth Management cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,132 shares of the company’s stock after selling 2,750 shares during the period. Spire Wealth Management’s holdings in SoFi Technologies were worth $1,753,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in SOFI. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock valued at $610,458,000 after purchasing an additional 2,567,797 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in SoFi Technologies by 102.4% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after buying an additional 250,854 shares during the last quarter. Baltimore Washington Financial Advisors Inc. grew its position in SoFi Technologies by 18.0% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after buying an additional 59,412 shares during the last quarter. Hartline Investment Corp lifted its position in shares of SoFi Technologies by 3.4% during the 3rd quarter. Hartline Investment Corp now owns 865,756 shares of the company’s stock valued at $6,917,000 after acquiring an additional 28,115 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in shares of SoFi Technologies by 15.3% during the 3rd quarter. Victory Capital Management Inc. now owns 96,052 shares of the company’s stock worth $767,000 after acquiring an additional 12,741 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity

In related news, CEO Anthony Noto acquired 28,775 shares of the firm’s stock in a transaction on Friday, May 3rd. The shares were bought at an average cost of $6.90 per share, with a total value of $198,547.50. Following the completion of the acquisition, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CEO Anthony Noto bought 28,775 shares of SoFi Technologies stock in a transaction dated Friday, May 3rd. The shares were bought at an average price of $6.90 per share, for a total transaction of $198,547.50. Following the purchase, the chief executive officer now owns 8,033,369 shares of the company’s stock, valued at $55,430,246.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction dated Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the sale, the chief technology officer now owns 390,616 shares of the company’s stock, valued at approximately $2,706,968.88. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SOFI. Mizuho cut their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Wedbush restated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday, April 30th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and boosted their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. Finally, The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.00 to $8.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 30th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $9.08.

SoFi Technologies Trading Down 1.1 %

Shares of SOFI opened at $6.98 on Wednesday. The stock’s 50-day moving average price is $7.44 and its 200 day moving average price is $7.84. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. SoFi Technologies, Inc. has a 12-month low of $4.45 and a 12-month high of $11.70. The firm has a market capitalization of $6.82 billion, a price-to-earnings ratio of -22.77 and a beta of 1.75.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.01. The business had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a positive return on equity of 1.13% and a negative net margin of 8.21%. SoFi Technologies’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the business posted ($0.05) earnings per share. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

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.