Allworth Financial LP Has $404,000 Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Allworth Financial LP reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 63.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 32,780 shares of the company's stock after selling 57,476 shares during the period. Allworth Financial LP's holdings in SoFi Technologies were worth $404,000 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 company. Two Sigma Advisers LP bought a new position in shares of SoFi Technologies in the 4th quarter worth $299,980,000. Vanguard Group Inc. boosted its position in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after purchasing an additional 8,898,879 shares during the last quarter. Norges Bank bought a new position in shares of SoFi Technologies in the 4th quarter worth $103,678,000. Voloridge Investment Management LLC bought a new position in shares of SoFi Technologies in the 4th quarter worth $75,139,000. Finally, First Trust Advisors LP boosted its position in shares of SoFi Technologies by 583.6% in the 4th quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock worth $41,375,000 after purchasing an additional 2,293,622 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $21.33 on Tuesday. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 52.03, a price-to-earnings-growth ratio of 3.57 and a beta of 1.91. The stock's 50-day moving average is $15.32 and its 200-day moving average is $14.21. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $21.86. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The company had revenue of $763.81 million for the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.34% and a net margin of 17.21%. The company's quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.02 earnings per share. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SOFI shares. UBS Group raised their price target on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. Stephens started coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target on the stock. TD Cowen started coverage on SoFi Technologies in a research report on Friday. They issued a "hold" rating and a $21.00 price target on the stock. Needham & Company LLC restated a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Finally, Keefe, Bruyette & Woods lifted their target price on SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a report on Thursday, July 10th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, SoFi Technologies has an average rating of "Hold" and an average price target of $16.41.

Insider Activity at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the completion of the sale, the director directly owned 289,258 shares in the company, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 274,095 shares of company stock valued at $3,939,168. 2.60% of the stock is 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.

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