Cetera Investment Advisers Decreases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cetera Investment Advisers cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 35.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 520,044 shares of the company's stock after selling 283,252 shares during the period. Cetera Investment Advisers' holdings in SoFi Technologies were worth $8,009,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC raised its stake in SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after buying an additional 685 shares in the last quarter. Procyon Advisors LLC grew its holdings in shares of SoFi Technologies by 8.0% during the fourth quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock worth $208,000 after buying an additional 1,000 shares during the last quarter. Game Plan Financial Advisors LLC boosted its holdings in SoFi Technologies by 13.9% in the 4th quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock valued at $128,000 after purchasing an additional 1,000 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in SoFi Technologies by 33.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock valued at $68,000 after purchasing an additional 1,100 shares in the last quarter. Finally, SOA Wealth Advisors LLC. boosted its holdings in SoFi Technologies by 33.1% in the 4th quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company's stock valued at $87,000 after purchasing an additional 1,400 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SOFI shares. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Needham & Company LLC restated a "buy" rating and set a $20.00 price objective on shares of SoFi Technologies in a report on Wednesday, April 30th. JMP Securities began coverage on SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. Citizens Jmp began coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective for the company. Finally, The Goldman Sachs Group upped their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and a consensus target price of $14.38.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm'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 completion of the transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This trade represents a 9.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of SoFi Technologies stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares of the company's stock, valued at $2,617,329.18. This trade represents a 5.14% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 100,172 shares of company stock worth $1,271,115. Corporate insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $14.04 on Tuesday. The firm's 50 day moving average is $11.91 and its two-hundred day moving average is $13.89. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The firm has a market capitalization of $15.40 billion, a P/E ratio of 37.95, a PEG ratio of 2.24 and a beta of 1.84. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The business's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter last year, the business earned $0.02 earnings per share. Analysts anticipate that SoFi Technologies, Inc. will post 0.26 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.

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