Sigma Planning Corp Sells 13,084 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Sigma Planning Corp lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 23.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 42,929 shares of the company’s stock after selling 13,084 shares during the period. Sigma Planning Corp’s holdings in SoFi Technologies were worth $337,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in shares of SoFi Technologies during the third quarter worth $27,000. Allspring Global Investments Holdings LLC boosted its position in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC boosted its position in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies in the 3rd quarter worth about $47,000. Institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

SOFI has been the topic of several research analyst reports. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Needham & Company LLC increased their price target on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.32.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at $830,594.82. This represents a 17.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. The trade was a 11.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock worth $904,677 in the last 90 days. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 1.7 %

Shares of NASDAQ SOFI opened at $13.63 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.21. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $14.44. The stock has a market capitalization of $14.53 billion, a P/E ratio of 136.30, a P/E/G ratio of 2.25 and a beta of 1.60. The company has a 50-day moving average price of $9.70 and a 200-day moving average price of $7.94.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. During the same quarter in the previous year, the business earned ($0.03) EPS. The company’s quarterly revenue was up 29.8% on a year-over-year basis. On average, equities research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.