SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. cut its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 8.0% during the 3rd quarter, Holdings Channel reports. The firm owned 13,250 shares of the company’s stock after selling 1,155 shares during the period. Raymond James Trust N.A.’s holdings in SoFi Technologies were worth $104,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SOFI. Capital Performance Advisors LLP purchased a new stake in SoFi Technologies in the 3rd quarter valued at approximately $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of SoFi Technologies by 55.3% in 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of 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 purchased a new stake in SoFi Technologies during the 3rd quarter worth about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in SoFi Technologies in the 3rd quarter valued at about $47,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. This trade represents a 11.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares of the company’s stock, valued at $1,290,472.89. This trade represents a 5.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 96,287 shares of company stock valued at $863,250 over the last three months. 2.60% of the stock is owned by company insiders.

SoFi Technologies Stock Up 4.1 %

Shares of NASDAQ:SOFI opened at $16.12 on Friday. The stock has a 50-day simple moving average of $10.90 and a 200-day simple moving average of $8.40. The stock has a market capitalization of $17.49 billion, a P/E ratio of 161.20, a PEG ratio of 2.61 and a beta of 1.60. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $16.16. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SOFI. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group raised their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. The Goldman Sachs Group upped their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Finally, Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.80.

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.