Grange Capital LLC Decreases Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Grange Capital LLC lowered its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 35.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,062 shares of the company's stock after selling 45,773 shares during the period. SoFi Technologies accounts for about 1.1% of Grange Capital LLC's holdings, making the stock its 25th biggest position. Grange Capital LLC's holdings in SoFi Technologies were worth $978,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the stock. Wealthfront Advisers LLC grew its position in shares of SoFi Technologies by 22.1% in the 1st quarter. Wealthfront Advisers LLC now owns 151,800 shares of the company's stock worth $1,765,000 after buying an additional 27,456 shares during the period. SBI Securities Co. Ltd. increased its position in SoFi Technologies by 93.9% in the first quarter. SBI Securities Co. Ltd. now owns 466,200 shares of the company's stock worth $5,422,000 after purchasing an additional 225,755 shares during the last quarter. Apollon Wealth Management LLC increased its position in SoFi Technologies by 49.9% during the first quarter. Apollon Wealth Management LLC now owns 92,974 shares of the company's stock valued at $1,081,000 after acquiring an additional 30,960 shares during the last quarter. Sigma Planning Corp boosted its stake in shares of SoFi Technologies by 3.8% during the first quarter. Sigma Planning Corp now owns 45,036 shares of the company's stock valued at $524,000 after purchasing an additional 1,634 shares during the period. Finally, Signaturefd LLC lifted its stake in SoFi Technologies by 6.2% in the first quarter. Signaturefd LLC now owns 21,476 shares of the company's stock worth $250,000 after acquiring an additional 1,246 shares during the period. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Up 0.6%

NASDAQ:SOFI opened at $21.33 on Tuesday. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week 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. The stock has a market capitalization of $23.58 billion, a PE ratio of 52.03, a price-to-earnings-growth ratio of 3.57 and a beta of 1.91. The business's 50-day simple moving average is $15.32 and its 200-day simple moving average is $14.21.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.03. The firm 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 business's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.02 EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 11,520 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president owned 203,509 shares in the company, valued at $2,722,950.42. This represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the firm's stock in a transaction that occurred on 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 transaction, the director owned 289,258 shares in the company, valued at $4,162,422.62. This represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 274,095 shares of company stock valued at $3,939,168 in the last 90 days. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on SOFI. UBS Group raised their price target on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research report on Wednesday, April 30th. JMP Securities reissued a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research report on Monday. Stephens began coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target for the company. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $9.00 to $13.00 and gave the company an "underperform" rating in a report on Thursday, July 10th. Finally, Truist Financial initiated 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 on the stock. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $16.41.

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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