Algert Global LLC Sells 15,300 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Algert Global LLC decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 271,486 shares of the company’s stock after selling 15,300 shares during the quarter. Algert Global LLC’s holdings in SoFi Technologies were worth $2,134,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Russell Investments Group Ltd. grew its position in SoFi Technologies by 341.0% in the first quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company’s stock valued at $318,000 after acquiring an additional 33,732 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in shares of SoFi Technologies by 105.3% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 182,804 shares of the company’s stock valued at $1,335,000 after purchasing an additional 93,766 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in SoFi Technologies by 7.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 535,894 shares of the company’s stock worth $3,913,000 after purchasing an additional 37,984 shares in the last quarter. Janus Henderson Group PLC lifted its stake in SoFi Technologies by 13.7% in the 1st quarter. Janus Henderson Group PLC now owns 457,322 shares of the company’s stock valued at $3,336,000 after purchasing an additional 55,182 shares during the last quarter. Finally, B. Riley Wealth Advisors Inc. boosted its position in SoFi Technologies by 5.4% in the first quarter. B. Riley Wealth Advisors Inc. now owns 127,136 shares of the company’s stock valued at $1,016,000 after buying an additional 6,488 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $15.49 on Wednesday. The firm has a market cap of $16.81 billion, a P/E ratio of 154.92, a P/E/G ratio of 2.59 and a beta of 1.60. The stock’s 50 day moving average is $10.59 and its 200 day moving average is $8.28. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $16.09.

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

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares in the company, valued at approximately $2,076,445.28. The trade was a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 11.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,287 shares of company stock valued at $863,250. 2.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SOFI has been the subject of several research analyst reports. Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Needham & Company LLC upped their target price on SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Mizuho upped their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group raised their price objective on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $9.80.

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.