Means Investment CO. Inc. Sells 3,042 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Means Investment CO. Inc. reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 5.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 54,650 shares of the company’s stock after selling 3,042 shares during the period. Means Investment CO. Inc.’s holdings in SoFi Technologies were worth $361,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in SoFi Technologies by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after purchasing an additional 1,366,271 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of SoFi Technologies by 6.4% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 11,457,940 shares of the company’s stock valued at $75,737,000 after buying an additional 690,638 shares during the last quarter. Nikko Asset Management Americas Inc. grew its position in SoFi Technologies by 176.3% during the first quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after buying an additional 6,870,610 shares in the last quarter. Norges Bank bought a new position in SoFi Technologies during the fourth quarter valued at about $71,349,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in SoFi Technologies by 3.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock valued at $54,659,000 after acquiring an additional 199,949 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other SoFi Technologies news, CEO Anthony Noto acquired 28,900 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the acquisition, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Anthony Noto acquired 28,900 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The stock was acquired at an average price of $6.92 per share, for a total transaction of $199,988.00. Following the completion of the acquisition, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the sale, the chief technology officer now directly owns 453,464 shares of the company’s stock, valued at $2,906,704.24. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the topic of a number of research reports. Barclays lowered their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Keefe, Bruyette & Woods dropped their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Wedbush reissued an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a research report on Tuesday, April 30th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.20.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded up $0.46 during trading on Monday, reaching $7.46. The company had a trading volume of 51,424,594 shares, compared to its average volume of 46,348,633. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $10.49. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.24 and a current ratio of 0.93. The business’s 50 day moving average price is $6.83 and its 200-day moving average price is $7.25. The stock has a market cap of $7.89 billion, a PE ratio of -23.84, a PEG ratio of 1.45 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The firm had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a positive return on equity of 2.30% and a negative net margin of 5.15%. The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.06) EPS. Analysts expect that SoFi Technologies, Inc. will post 0.1 earnings per share for the current year.

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.