Nisa Investment Advisors LLC Sells 22,000 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Nisa Investment Advisors LLC trimmed its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 219,700 shares of the company’s stock after selling 22,000 shares during the quarter. Nisa Investment Advisors LLC’s holdings in SoFi Technologies were worth $2,186,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE raised its holdings in SoFi Technologies by 197.0% during the 1st quarter. US Bancorp DE now owns 3,015 shares of the company’s stock valued at $28,000 after buying an additional 2,000 shares during the last quarter. Westside Investment Management Inc. raised its holdings in SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares during the last quarter. Advisors Asset Management Inc. bought a new stake in SoFi Technologies during the 1st quarter valued at $36,000. Lazard Asset Management LLC raised its holdings in SoFi Technologies by 116.0% during the 3rd quarter. Lazard Asset Management LLC now owns 5,185 shares of the company’s stock valued at $41,000 after buying an additional 2,785 shares during the last quarter. Finally, American International Group Inc. bought a new stake in SoFi Technologies during the 2nd quarter valued at $44,000. 38.43% of the stock is currently owned by institutional investors.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 56,273 shares of the stock in a transaction that occurred on Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.70% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $7.33 on Friday. The firm’s 50-day moving average price is $7.79 and its 200-day moving average price is $7.93. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00. The company has a market cap of $7.16 billion, a PE ratio of -19.29 and a beta of 1.75. SoFi Technologies, Inc. has a 52-week low of $4.45 and a 52-week high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The firm had revenue of $615.40 million for the quarter, compared to analysts’ expectations of $572.02 million. During the same quarter in the prior year, the business earned ($0.05) EPS. The business’s quarterly revenue was up 34.7% on a year-over-year basis. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SOFI. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Wedbush restated an “underperform” rating and issued a $3.00 price objective on shares of SoFi Technologies in a report on Wednesday, March 6th. Mizuho decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Thursday, January 18th. Keefe, Bruyette & Woods upgraded shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Finally, Jefferies Financial Group decreased their price objective on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. 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.