SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC trimmed its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 31.7% in the fourth quarter, HoldingsChannel.com reports. The fund owned 11,254 shares of the company’s stock after selling 5,225 shares during the quarter. Axxcess Wealth Management LLC’s holdings in SoFi Technologies were worth $173,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SOFI. Victory Capital Management Inc. increased its stake in SoFi Technologies by 1.0% in the third quarter. Victory Capital Management Inc. now owns 128,661 shares of the company’s stock valued at $1,011,000 after purchasing an additional 1,319 shares during the last quarter. OneDigital Investment Advisors LLC increased its stake in SoFi Technologies by 30.0% in the third quarter. OneDigital Investment Advisors LLC now owns 24,498 shares of the company’s stock valued at $193,000 after purchasing an additional 5,650 shares during the last quarter. CIBC Asset Management Inc increased its stake in SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock valued at $223,000 after purchasing an additional 962 shares during the last quarter. Empowered Funds LLC increased its stake in SoFi Technologies by 5.0% in the third quarter. Empowered Funds LLC now owns 41,277 shares of the company’s stock valued at $324,000 after purchasing an additional 1,951 shares during the last quarter. Finally, Pathstone Holdings LLC increased its stake in SoFi Technologies by 13.2% in the third quarter. Pathstone Holdings LLC now owns 192,057 shares of the company’s stock valued at $1,510,000 after purchasing an additional 22,426 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,819 shares of company stock valued at $1,447,044. Insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Needham & Company LLC boosted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. UBS Group boosted their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Finally, Morgan Stanley boosted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Up 1.8 %

Shares of SOFI opened at $12.87 on Friday. The company has a market capitalization of $14.11 billion, a P/E ratio of 34.78, a P/E/G ratio of 2.24 and a beta of 1.79. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. 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 moving average price of $14.67 and a 200 day moving average price of $13.01.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period in the prior year, the company earned $0.04 earnings per share. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

About SoFi Technologies

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.