SoFi Technologies, Inc. (NASDAQ:SOFI) Stock Position Reduced by IFP Advisors Inc

IFP Advisors Inc reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 11.5% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 91,642 shares of the company's stock after selling 11,919 shares during the period. IFP Advisors Inc's holdings in SoFi Technologies were worth $1,066,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Two Sigma Advisers LP acquired a new stake in shares of SoFi Technologies during the 4th quarter worth approximately $299,980,000. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 9.9% during the fourth 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 in the last quarter. Norges Bank acquired a new position in shares of SoFi Technologies during the fourth quarter worth $103,678,000. Voloridge Investment Management LLC purchased a new stake in SoFi Technologies in the fourth quarter valued at $75,139,000. Finally, First Trust Advisors LP lifted its position in SoFi Technologies by 583.6% in the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock valued at $41,375,000 after acquiring an additional 2,293,622 shares during the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,267 shares of the business's stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $21.80, for a total value of $223,820.60. Following the sale, the executive vice president directly owned 245,200 shares in the company, valued at $5,345,360. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Magdalena Yesil sold 87,140 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 273,181 shares of company stock worth $4,043,240. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Price Performance

Shares of SOFI stock traded down $0.31 during midday trading on Friday, reaching $21.20. 40,013,421 shares of the company were exchanged, compared to its average volume of 58,098,016. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $22.74. The company has a market cap of $23.43 billion, a P/E ratio of 51.71, a PEG ratio of 3.64 and a beta of 1.91. The company's 50 day moving average price is $16.59 and its two-hundred day moving average price is $14.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.14 and a current ratio of 0.80.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on SOFI shares. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $9.00 to $13.00 and gave the stock an "underperform" rating in a report on Thursday, July 10th. The Goldman Sachs Group began coverage on shares of SoFi Technologies in a research report on Monday, July 14th. They issued a "neutral" rating and a $19.00 price target on the stock. TD Cowen started coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They issued a "hold" rating and a $21.00 price target on the stock. Barclays raised their target price on shares of SoFi Technologies from $12.00 to $18.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 8th. Finally, Citizens Jmp lowered shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. 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 issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $16.78.

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.