SoFi Technologies, Inc. (NASDAQ:SOFI) Stake Reduced by Parkside Investments LLC

Parkside Investments LLC cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 670,960 shares of the company’s stock after selling 81,050 shares during the period. SoFi Technologies accounts for approximately 1.6% of Parkside Investments LLC’s investment portfolio, making the stock its 24th largest holding. Parkside Investments LLC owned 0.06% of SoFi Technologies worth $10,333,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies in the 3rd quarter worth $27,000. Brooklyn Investment Group bought a new stake in SoFi Technologies in the third quarter worth about $28,000. FNY Investment Advisers LLC lifted its holdings in SoFi Technologies by 727.1% in the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $47,000. 38.43% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total transaction of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares of the company’s stock, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SOFI. William Blair reaffirmed an “outperform” rating on shares of SoFi Technologies in a report on Friday. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Jefferies Financial Group increased their target price on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Morgan Stanley lifted their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Finally, Citigroup raised their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.71.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $17.92 on Monday. The firm has a market capitalization of $19.45 billion, a PE ratio of 179.22, a price-to-earnings-growth ratio of 1.19 and a beta of 1.78. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The firm has a 50-day moving average price of $15.71 and a 200 day moving average price of $11.08.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 27th. 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 return on equity of 3.71% and a net margin of 8.38%. During the same period in the previous year, the firm posted $0.04 earnings per share. Research analysts anticipate that SoFi Technologies, Inc. will post 0.12 earnings per share 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.