Kingsview Wealth Management LLC Has $165,000 Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kingsview Wealth Management LLC cut its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFIFree Report) by 76.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,705 shares of the company’s stock after selling 68,116 shares during the quarter. Kingsview Wealth Management LLC’s holdings in SoFi Technologies were worth $165,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. bought a new position in shares of SoFi Technologies during the 2nd quarter worth about $26,000. US Bancorp DE boosted its holdings 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 acquiring an additional 2,000 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in SoFi Technologies by 48.1% in the second quarter. Geneos Wealth Management Inc. now owns 3,925 shares of the company’s stock valued at $33,000 after acquiring an additional 1,275 shares during the period. Advisors Asset Management Inc. acquired a new position in shares of SoFi Technologies during the first quarter worth approximately $36,000. Finally, American International Group Inc. bought a new position in shares of SoFi Technologies in the 2nd quarter worth $44,000. 37.13% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $9.78, for a total value of $550,349.94. Following the completion of the transaction, the chief technology officer now owns 343,250 shares in the company, valued at $3,356,985. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $9.78, for a total transaction of $550,349.94. Following the sale, the chief technology officer now owns 343,250 shares in the company, valued at $3,356,985. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony Noto purchased 22,500 shares of SoFi Technologies stock in a transaction dated Tuesday, November 21st. The stock was bought at an average price of $6.50 per share, with a total value of $146,250.00. Following the completion of the transaction, the chief executive officer now owns 7,261,789 shares of the company’s stock, valued at approximately $47,201,628.50. The disclosure for this purchase can be found here. Insiders own 2.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on SOFI. The Goldman Sachs Group boosted their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a research note on Tuesday, January 30th. Truist Financial lowered their target price on shares of SoFi Technologies from $16.00 to $14.00 and set a “buy” rating on the stock in a report on Tuesday, October 31st. Piper Sandler cut their price target on SoFi Technologies from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Friday, November 17th. Citigroup decreased their price objective on SoFi Technologies from $12.00 to $11.00 and set a “buy” rating for the company in a report on Friday, November 24th. Finally, Barclays started coverage on SoFi Technologies in a research report on Wednesday, November 15th. They set an “equal weight” rating and a $8.00 target price on the stock. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.78.

View Our Latest Analysis on SOFI

SoFi Technologies Trading Up 5.5 %

Shares of SOFI stock opened at $8.08 on Friday. The company has a quick ratio of 0.23, a current ratio of 1.52 and a debt-to-equity ratio of 1.24. The firm has a market cap of $7.75 billion, a P/E ratio of -21.26 and a beta of 1.78. The company has a 50 day moving average of $8.49 and a 200-day moving average of $8.25. SoFi Technologies, Inc. has a 12-month low of $4.45 and a 12-month high of $11.70.

SoFi Technologies (NASDAQ:SOFIGet Free Report) last announced its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $615.40 million during the quarter, compared to analyst estimates of $572.02 million. During the same period in the prior year, the company earned ($0.05) earnings per share. SoFi Technologies’s revenue was up 34.7% compared to the same quarter last year. Sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.07 earnings per share for the current year.

SoFi Technologies Company Profile

(Free Report)

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.

Further Reading

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

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