Parkside Investments LLC Has $7.61 Million Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Parkside Investments LLC lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 55.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 912,125 shares of the company’s stock after selling 1,157,975 shares during the quarter. Parkside Investments LLC owned approximately 0.10% of SoFi Technologies worth $7,607,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Moseley Investment Management Inc. acquired a new stake in SoFi Technologies during the 2nd quarter valued at approximately $217,000. State Board of Administration of Florida Retirement System grew its position in shares of SoFi Technologies by 30.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 496,330 shares of the company’s stock worth $3,013,000 after buying an additional 116,860 shares during the period. Sweeney & Michel LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $347,000. Atomi Financial Group Inc. acquired a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $84,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $123,000. Institutional investors and hedge funds own 37.13% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on SOFI shares. Bank of America raised their price objective on shares of SoFi Technologies from $10.00 to $11.50 and gave the stock a “neutral” rating in a research report on Tuesday, August 1st. Morgan Stanley downgraded shares of SoFi Technologies from an “equal weight” rating to an “underweight” rating and raised their price objective for the stock from $6.50 to $7.00 in a research report on Thursday, July 13th. Wedbush reaffirmed an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, August 1st. Citigroup lifted their price target on shares of SoFi Technologies from $10.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, August 17th. Finally, Keefe, Bruyette & Woods downgraded shares of SoFi Technologies from a “market perform” rating to an “underperform” rating and lifted their price target for the company from $5.50 to $7.00 in a research report on Tuesday, August 1st. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $9.17.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 53,532 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $8.88, for a total transaction of $475,364.16. Following the transaction, the chief technology officer now directly owns 160,597 shares in the company, valued at approximately $1,426,101.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 2.70% of the company’s stock.

SoFi Technologies Stock Up 0.1 %

NASDAQ:SOFI traded up $0.01 during trading hours on Friday, hitting $9.06. 8,389,549 shares of the company traded hands, compared to its average volume of 42,144,109. The company has a quick ratio of 0.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $8.99 and its 200-day simple moving average is $7.33. SoFi Technologies, Inc. has a one year low of $4.24 and a one year high of $11.70. The company has a market cap of $8.61 billion, a PE ratio of -36.20 and a beta of 1.88.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, July 31st. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. SoFi Technologies had a negative return on equity of 3.76% and a negative net margin of 10.38%. The business had revenue of $488.80 million for the quarter, compared to analysts’ expectations of $473.94 million. During the same period last year, the business earned ($0.12) EPS. The business’s revenue was up 37.3% on a year-over-year basis. Equities analysts predict that SoFi Technologies, Inc. will post -0.2 earnings per share for the current year.

SoFi Technologies Profile

SoFi Technologies, Inc provides various financial services. 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. It also offers personal loans, student loans, home loans, and related services.