SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 30.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 557,514 shares of the company’s stock after selling 248,065 shares during the period. Quantbot Technologies LP owned 0.06% of SoFi Technologies worth $4,070,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Wedmont Private Capital raised its holdings in SoFi Technologies by 13.2% in the 4th quarter. Wedmont Private Capital now owns 12,068 shares of the company’s stock valued at $120,000 after buying an additional 1,411 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of SoFi Technologies by 2.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 65,785 shares of the company’s stock worth $655,000 after purchasing an additional 1,498 shares during the period. Westside Investment Management Inc. increased its holdings in SoFi Technologies by 93.8% in the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after purchasing an additional 1,500 shares during the last quarter. EP Wealth Advisors LLC raised its position in SoFi Technologies by 0.4% in the fourth quarter. EP Wealth Advisors LLC now owns 377,022 shares of the company’s stock valued at $3,751,000 after purchasing an additional 1,508 shares during the period. Finally, River Street Advisors LLC lifted its stake in SoFi Technologies by 4.5% during the fourth quarter. River Street Advisors LLC now owns 35,414 shares of the company’s stock worth $352,000 after purchasing an additional 1,526 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Price Performance

Shares of SOFI stock traded up $0.20 during mid-day trading on Friday, reaching $6.97. The stock had a trading volume of 36,958,594 shares, compared to its average volume of 46,789,164. SoFi Technologies, Inc. has a 12-month low of $6.15 and a 12-month high of $11.70. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The business has a 50-day simple moving average of $6.80 and a 200 day simple moving average of $7.53. The company has a market cap of $7.37 billion, a P/E ratio of -22.13, a price-to-earnings-growth ratio of 1.53 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.01. The company had revenue of $580.60 million during the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative net margin of 8.21% and a positive return on equity of 1.10%. The firm’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.05) earnings per share. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on SOFI shares. Jefferies Financial Group lowered their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating for the company in a report on Tuesday, March 26th. BTIG Research initiated coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a report on Tuesday, July 2nd. Keefe, Bruyette & Woods dropped their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, Wedbush reiterated an “underperform” rating and set a $3.00 target price on shares of SoFi Technologies in a research note on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $9.29.

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 56,273 shares of SoFi Technologies stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the sale, the chief technology officer now owns 453,464 shares in the company, valued at approximately $2,906,704.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other SoFi Technologies news, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total transaction of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The disclosure for this sale can be found here. Insiders purchased a total of 88,390 shares of company stock valued at $597,569 over the last three months. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Company 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.