Cambridge Investment Research Advisors Inc. Sells 122,443 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Cambridge Investment Research Advisors Inc. cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI – Get Rating) by 35.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 223,821 shares of the company’s stock after selling 122,443 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in SoFi Technologies were worth $1,032,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SOFI. State Street Corp lifted its position in SoFi Technologies by 76.6% in the second quarter. State Street Corp now owns 11,686,894 shares of the company’s stock worth $61,590,000 after buying an additional 5,068,034 shares during the last quarter. Vanguard Group Inc. lifted its position in SoFi Technologies by 7.8% in the third quarter. Vanguard Group Inc. now owns 66,808,733 shares of the company’s stock worth $326,027,000 after buying an additional 4,846,633 shares during the last quarter. Point72 Asset Management L.P. lifted its position in SoFi Technologies by 35,197.2% in the third quarter. Point72 Asset Management L.P. now owns 3,509,722 shares of the company’s stock worth $17,127,000 after buying an additional 3,519,722 shares during the last quarter. International Assets Investment Management LLC lifted its position in SoFi Technologies by 6,058.8% in the fourth quarter. International Assets Investment Management LLC now owns 3,489,580 shares of the company’s stock worth $4,316,000 after buying an additional 3,432,920 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its position in shares of SoFi Technologies by 104.3% during the third quarter. Nuveen Asset Management LLC now owns 3,076,622 shares of the company’s stock worth $50,426,000 after purchasing an additional 1,570,690 shares during the last quarter. 34.32% of the stock is currently owned by institutional investors.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto purchased 180,000 shares of the company’s stock in a transaction dated Friday, March 10th. The shares were acquired at an average price of $5.53 per share, for a total transaction of $995,400.00. Following the completion of the purchase, the chief executive officer now owns 5,984,110 shares of the company’s stock, valued at $33,092,128.30. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CEO Anthony Noto bought 180,000 shares of the firm’s stock in a transaction that occurred on Friday, March 10th. The stock was purchased at an average price of $5.53 per share, with a total value of $995,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 5,984,110 shares of the company’s stock, valued at approximately $33,092,128.30. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 200,000 shares of SoFi Technologies stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $5.47, for a total value of $1,094,000.00. Following the sale, the chief technology officer now directly owns 101,582 shares of the company’s stock, valued at approximately $555,653.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 341,926 shares of company stock worth $1,776,266. Insiders own 13.00% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the subject of several research analyst reports. Wedbush downgraded SoFi Technologies from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $5.00 to $2.50 in a research report on Monday, May 15th. Truist Financial initiated coverage on SoFi Technologies in a report on Friday, May 12th. They issued a “buy” rating and a $8.00 price objective for the company. Oppenheimer lifted their price objective on SoFi Technologies from $6.00 to $7.00 and gave the company an “outperform” rating in a report on Tuesday, January 31st. Piper Sandler decreased their price objective on SoFi Technologies from $8.00 to $6.50 in a report on Wednesday. Finally, Morgan Stanley lifted their price objective on SoFi Technologies from $6.00 to $6.50 and gave the company an “equal weight” rating in a report on Wednesday, February 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $7.14.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $4.93 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $4.24 and a fifty-two week high of $8.52. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of -15.90 and a beta of 1.65. The company has a debt-to-equity ratio of 1.17, a quick ratio of 0.31 and a current ratio of 1.80. The stock’s 50-day simple moving average is $5.57 and its 200-day simple moving average is $5.55.

SoFi Technologies (NASDAQ:SOFI – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.03. SoFi Technologies had a negative return on equity of 4.70% and a negative net margin of 13.72%. The business had revenue of $460.20 million for the quarter, compared to analyst estimates of $436.78 million. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. The company’s revenue was up 43.1% on a year-over-year basis. As a group, equities analysts forecast that SoFi Technologies, Inc. will post -0.19 earnings per share for the current fiscal year.

SoFi Technologies 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.