SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Patient Capital Management LLC

Patient Capital Management LLC trimmed its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 26.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,251,680 shares of the company’s stock after selling 1,544,007 shares during the quarter. SoFi Technologies comprises 3.0% of Patient Capital Management LLC’s investment portfolio, making the stock its 14th biggest position. Patient Capital Management LLC owned 0.39% of SoFi Technologies worth $65,476,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the fourth quarter valued at about $27,000. Hollencrest Capital Management purchased a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after acquiring an additional 1,905 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies during the 4th quarter worth approximately $38,000. Finally, Legacy Investment Solutions LLC boosted its position in shares of SoFi Technologies by 116.3% during the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company’s stock worth $48,000 after purchasing an additional 1,744 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI opened at $14.29 on Wednesday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The stock has a market capitalization of $15.67 billion, a PE ratio of 38.62, a PEG ratio of 2.24 and a beta of 1.84. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The stock has a 50-day simple moving average of $11.94 and a 200-day simple moving average of $13.89.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company had revenue of $763.81 million during the quarter, compared to the consensus estimate of $739.93 million. During the same quarter in the previous year, the firm earned $0.02 earnings per share. The firm’s quarterly revenue was up 32.7% on a year-over-year basis. On average, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the topic of a number of research reports. Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Dbs Bank upgraded SoFi Technologies to a “strong-buy” rating in a report on Friday, February 21st. JMP Securities initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set a “market outperform” rating and a $17.00 target price on the stock. William Blair restated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Finally, Barclays boosted their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 30th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus price target of $14.38.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the transaction, the executive vice president now directly owns 226,210 shares of the company’s stock, valued at approximately $2,877,391.20. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 100,172 shares of company stock valued at $1,271,115. Insiders own 2.60% of the company’s stock.

SoFi Technologies 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.