Envestnet Asset Management Inc. Sells 69,507 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Envestnet Asset Management Inc. cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 34.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,394 shares of the company's stock after selling 69,507 shares during the period. Envestnet Asset Management Inc.'s holdings in SoFi Technologies were worth $1,993,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. CIBC Private Wealth Group LLC lifted its stake in shares of SoFi Technologies by 1.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after acquiring an additional 685 shares during the period. Procyon Advisors LLC boosted its stake in shares of SoFi Technologies by 8.0% in the 4th quarter. Procyon Advisors LLC now owns 13,497 shares of the company's stock valued at $208,000 after purchasing an additional 1,000 shares during the last quarter. Game Plan Financial Advisors LLC raised its stake in SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock worth $128,000 after buying an additional 1,000 shares during the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in SoFi Technologies by 33.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock valued at $68,000 after buying an additional 1,100 shares during the period. Finally, World Investment Advisors LLC grew its holdings in SoFi Technologies by 6.5% during the 3rd quarter. World Investment Advisors LLC now owns 21,745 shares of the company's stock worth $171,000 after acquiring an additional 1,336 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citizens Jmp assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 target price on the stock. UBS Group raised their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday. William Blair reiterated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Needham & Company LLC restated a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a report on Wednesday. Finally, Keefe, Bruyette & Woods reiterated an "underperform" rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $13.20.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the transaction, the chief technology officer now directly owns 655,118 shares in the company, valued at $8,280,691.52. The trade was a 9.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the sale, the executive vice president now owns 215,029 shares of the company's stock, valued at approximately $2,302,960.59. This trade represents a 4.94 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 100,172 shares of company stock valued at $1,271,115. Company insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

SOFI stock traded down $0.85 during midday trading on Wednesday, hitting $12.42. The company's stock had a trading volume of 61,197,406 shares, compared to its average volume of 46,777,546. The stock's 50-day moving average price is $12.09 and its 200 day moving average price is $13.70. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market cap of $13.62 billion, a price-to-earnings ratio of 33.57, a PEG ratio of 2.24 and a beta of 1.86. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42.

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

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.