SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Pictet Asset Management SA

Pictet Asset Management SA decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFIGet Rating) by 83.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 26,978 shares of the company’s stock after selling 138,802 shares during the quarter. Pictet Asset Management SA’s holdings in SoFi Technologies were worth $142,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in SOFI. Steward Partners Investment Advisory LLC boosted its stake in SoFi Technologies by 7.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 21,626 shares of the company’s stock worth $114,000 after purchasing an additional 1,416 shares during the period. Lincoln National Corp boosted its stake in SoFi Technologies by 3.0% in the 1st quarter. Lincoln National Corp now owns 56,782 shares of the company’s stock worth $536,000 after purchasing an additional 1,668 shares during the period. Benjamin F. Edwards & Company Inc. boosted its stake in SoFi Technologies by 125.0% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 3,375 shares of the company’s stock worth $32,000 after purchasing an additional 1,875 shares during the period. J.W. Cole Advisors Inc. boosted its stake in SoFi Technologies by 8.4% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 24,400 shares of the company’s stock worth $129,000 after purchasing an additional 1,900 shares during the period. Finally, Game Plan Financial Advisors LLC boosted its stake in SoFi Technologies by 8.9% in the 2nd quarter. Game Plan Financial Advisors LLC now owns 23,300 shares of the company’s stock worth $123,000 after purchasing an additional 1,900 shares during the period. Institutional investors and hedge funds own 38.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SOFI. Mizuho decreased their target price on shares of SoFi Technologies from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Wednesday. Credit Suisse Group lifted their target price on shares of SoFi Technologies from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, August 3rd. Wedbush decreased their target price on shares of SoFi Technologies from $8.00 to $6.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley decreased their target price on shares of SoFi Technologies from $7.50 to $7.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 2nd. Finally, Seaport Res Ptn reissued a “neutral” rating on shares of SoFi Technologies in a research note on Friday, September 9th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.85.

SoFi Technologies Stock Performance

Shares of SOFI opened at $4.66 on Friday. The company has a market capitalization of $4.32 billion, a PE ratio of -9.32 and a beta of 1.57. SoFi Technologies, Inc. has a one year low of $4.53 and a one year high of $18.69. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.23 and a quick ratio of 2.23. The company’s fifty day moving average price is $5.30 and its 200 day moving average price is $6.05.

SoFi Technologies Company Profile

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SoFi Technologies, Inc provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans.

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Institutional Ownership by Quarter for SoFi Technologies (NASDAQ:SOFI)

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