Cambridge Investment Research Advisors Inc. Lowers Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cambridge Investment Research Advisors Inc. lowered its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 6.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 258,649 shares of the company's stock after selling 18,744 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in SoFi Technologies were worth $3,008,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Consolidated Investment Group LLC increased its stake in shares of SoFi Technologies by 9.5% during the first quarter. Consolidated Investment Group LLC now owns 151,085 shares of the company's stock valued at $1,757,000 after purchasing an additional 13,085 shares in the last quarter. Garde Capital Inc. purchased a new stake in SoFi Technologies during the 1st quarter valued at about $31,000. River Street Advisors LLC grew its holdings in shares of SoFi Technologies by 6.6% during the first quarter. River Street Advisors LLC now owns 67,202 shares of the company's stock valued at $782,000 after buying an additional 4,179 shares during the last quarter. Compass Capital Corp MA ADV increased its position in shares of SoFi Technologies by 12.6% during the first quarter. Compass Capital Corp MA ADV now owns 11,260 shares of the company's stock valued at $131,000 after acquiring an additional 1,260 shares in the last quarter. Finally, Wealthspan Partners LLC lifted its holdings in shares of SoFi Technologies by 9.4% during the first quarter. Wealthspan Partners LLC now owns 21,611 shares of the company's stock valued at $251,000 after purchasing an additional 1,850 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $17.18 on Monday. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The stock has a market cap of $18.99 billion, a price-to-earnings ratio of 41.90, a PEG ratio of 2.91 and a beta of 1.82. The company's 50 day moving average is $13.76 and its two-hundred day moving average is $13.94.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share 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 analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. SoFi Technologies's revenue for the quarter was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.02 EPS. As a group, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price for the company. Truist Financial started coverage on shares of SoFi Technologies in a research report on Monday, June 2nd. They issued a "hold" rating and a $14.00 target price for the company. Barclays boosted their target price on shares of SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. 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 note on Wednesday, April 30th. Finally, Citizens Jmp assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective for the company. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $14.73.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of the firm's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the transaction, the chief technology officer now owns 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,267 shares of the firm's stock in a transaction dated Friday, June 20th. The stock was sold at an average price of $15.22, for a total transaction of $156,263.74. Following the completion of the sale, the executive vice president now directly owns 255,467 shares of the company's stock, valued at approximately $3,888,207.74. The trade was a 3.86% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 274,095 shares of company stock valued at $3,939,168. Corporate insiders own 2.60% of the company's stock.

About SoFi Technologies

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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