SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Position Reduced by Quadcap Wealth Management LLC

Quadcap Wealth Management LLC decreased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,337 shares of the company’s stock after selling 1,261 shares during the period. Quadcap Wealth Management LLC’s holdings in SoFi Technologies were worth $159,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its position in SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company’s stock valued at $1,514,390,000 after acquiring an additional 8,898,879 shares during the period. Norges Bank bought a new stake in shares of SoFi Technologies during the 4th quarter worth $103,678,000. Amundi boosted its stake in shares of SoFi Technologies by 58,176.3% during the 4th quarter. Amundi now owns 2,705,185 shares of the company’s stock worth $39,360,000 after acquiring an additional 2,700,543 shares in the last quarter. First Trust Advisors LP boosted its position in shares of SoFi Technologies by 583.6% in the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company’s stock worth $41,375,000 after buying an additional 2,293,622 shares during the period. Finally, Aquatic Capital Management LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter worth $26,755,000. Institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SOFI. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a “market outperform” rating and a $17.00 target price for the company. Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of SoFi Technologies in a report on Wednesday, April 30th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Finally, Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies presently has an average rating of “Hold” and a consensus target price of $14.38.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 9,185 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $15.43, for a total value of $141,724.55. Following the transaction, the executive vice president now owns 169,626 shares of the company’s stock, valued at $2,617,329.18. This represents a 5.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,172 shares of company stock worth $1,271,115. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 2.6%

NASDAQ SOFI opened at $13.92 on Friday. The firm has a market cap of $15.39 billion, a PE ratio of 37.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The stock’s 50 day simple moving average is $12.07 and its 200 day simple moving average is $13.94. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. SoFi Technologies’s revenue for the quarter was up 32.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.02 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 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.