Savior LLC Lowers Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Savior LLC lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 91.3% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,498 shares of the company’s stock after selling 215,947 shares during the quarter. SoFi Technologies makes up about 0.7% of Savior LLC’s investment portfolio, making the stock its 27th largest position. Savior LLC’s holdings in SoFi Technologies were worth $171,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the stock. Zullo Investment Group Inc. increased its position in SoFi Technologies by 7.5% in the fourth quarter. Zullo Investment Group Inc. now owns 24,800 shares of the company’s stock worth $114,000 after purchasing an additional 1,725 shares during the last quarter. Voya Investment Management LLC increased its position in SoFi Technologies by 1.4% in the fourth quarter. Voya Investment Management LLC now owns 128,256 shares of the company’s stock worth $591,000 after purchasing an additional 1,787 shares during the last quarter. Mercer Global Advisors Inc. ADV increased its position in SoFi Technologies by 7.3% in the third quarter. Mercer Global Advisors Inc. ADV now owns 27,882 shares of the company’s stock worth $136,000 after purchasing an additional 1,904 shares during the last quarter. US Bancorp DE increased its position in SoFi Technologies by 197.0% in the first quarter. US Bancorp DE now owns 3,015 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares during the last quarter. Finally, Capital Advisors Wealth Management LLC increased its position in SoFi Technologies by 2.8% in the first quarter. Capital Advisors Wealth Management LLC now owns 75,323 shares of the company’s stock worth $457,000 after purchasing an additional 2,045 shares during the last quarter. Hedge funds and other institutional investors own 37.13% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Piper Sandler boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock a “neutral” rating in a research report on Friday, August 18th. BTIG Research cut their price objective on shares of SoFi Technologies from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Monday, July 31st. Wedbush reiterated an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a research report on Tuesday, August 1st. Mizuho upped their price target on shares of SoFi Technologies from $9.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Finally, Stephens initiated coverage on shares of SoFi Technologies in a report on Monday, July 24th. They issued an “equal weight” rating and a $7.00 price target on the stock. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.17.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 53,532 shares of the stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $8.88, for a total value of $475,364.16. Following the transaction, the chief technology officer now owns 160,597 shares in the company, valued at approximately $1,426,101.36. The sale was disclosed in a filing with the SEC, which is available through this link. 2.70% of the stock is owned by corporate insiders.

SoFi Technologies Stock Up 0.4 %

NASDAQ:SOFI traded up $0.04 during mid-day trading on Friday, reaching $9.09. The company’s stock had a trading volume of 4,909,963 shares, compared to its average volume of 42,122,902. SoFi Technologies, Inc. has a 1 year low of $4.24 and a 1 year high of $11.70. The stock has a fifty day moving average of $8.99 and a 200-day moving average of $7.33. The firm has a market capitalization of $8.64 billion, a PE ratio of -36.20 and a beta of 1.88. The company has a quick ratio of 0.29, a current ratio of 1.65 and a debt-to-equity ratio of 1.23.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, July 31st. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $488.80 million during the quarter, compared to analyst estimates of $473.94 million. SoFi Technologies had a negative net margin of 10.38% and a negative return on equity of 3.76%. The firm’s revenue for the quarter was up 37.3% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.12) earnings per share. Equities research analysts forecast 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.