Hourglass Capital LLC Trims Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Hourglass Capital LLC lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 32.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,000 shares of the company's stock after selling 13,000 shares during the quarter. Hourglass Capital LLC's holdings in SoFi Technologies were worth $314,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of SOFI. Two Sigma Advisers LP purchased a new stake in SoFi Technologies during the 4th quarter worth about $299,980,000. Vanguard Group Inc. lifted its position in SoFi Technologies by 9.9% during the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock worth $1,514,390,000 after acquiring an additional 8,898,879 shares in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies in the 4th quarter valued at approximately $103,678,000. Voloridge Investment Management LLC acquired a new position in shares of SoFi Technologies in the 4th quarter valued at approximately $75,139,000. Finally, Amundi raised its position in shares of SoFi Technologies by 58,176.3% in the 4th quarter. Amundi now owns 2,705,185 shares of the company's stock valued at $39,360,000 after purchasing an additional 2,700,543 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Price Performance

SOFI stock traded up $0.71 during mid-day trading on Tuesday, hitting $19.95. 111,120,611 shares of the stock were exchanged, compared to its average volume of 52,717,568. 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 business has a fifty day moving average price of $14.52 and a 200 day moving average price of $14.05. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $20.87. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 48.66, a PEG ratio of 3.15 and a beta of 1.91.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. SoFi Technologies had a net margin of 17.21% and a return on equity of 3.34%. The business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 10,267 shares of the firm's stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.22, for a total transaction of $156,263.74. Following the transaction, the executive vice president owned 255,467 shares in the company, valued at approximately $3,888,207.74. This trade represents a 3.86% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 274,095 shares of company stock worth $3,939,168. 2.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on SOFI shares. UBS Group increased 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. Citizens Jmp initiated coverage on SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Stephens started coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective on the stock. Finally, JMP Securities initiated coverage on SoFi Technologies in a report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $15.13.

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.