Nations Financial Group Inc. IA ADV Reduces Position in SoFi Technologies, Inc. $SOFI

Key Points

• Nations Financial Group Inc. IA ADV has reduced its holdings in SoFi Technologies by 58.3%, ending the quarter with 123,502 shares and a valuation of approximately $1,436,000.
• Several institutional investors have also modified their positions in SoFi Technologies, with Two Sigma Advisers LP acquiring a new stake valued at $299.98 million in the fourth quarter.
• SoFi Technologies reported earnings of $0.08 EPS for the last quarter, surpassing estimates, while the firm’s revenue reached $519.37 million, marking a 42.8% year-over-year increase.

Nations Financial Group Inc. IA ADV trimmed its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 58.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,502 shares of the company's stock after selling 172,670 shares during the period. Nations Financial Group Inc. IA ADV's holdings in SoFi Technologies were worth $1,436,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. American Century Companies Inc. raised its holdings in SoFi Technologies by 2.5% during the 1st quarter. American Century Companies Inc. now owns 296,556 shares of the company's stock worth $3,449,000 after buying an additional 7,358 shares during the period. Fox Run Management L.L.C. acquired a new stake in SoFi Technologies during the 1st quarter worth approximately $473,000. Trivium Point Advisory LLC grew its stake in shares of SoFi Technologies by 12.1% during the 1st quarter. Trivium Point Advisory LLC now owns 11,653 shares of the company's stock worth $136,000 after acquiring an additional 1,255 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of SoFi Technologies by 71.7% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 46,049 shares of the company's stock worth $536,000 after acquiring an additional 19,236 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its stake in shares of SoFi Technologies by 89.9% in the first quarter. Cookson Peirce & Co. Inc. now owns 74,829 shares of the company's stock valued at $870,000 after buying an additional 35,432 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Up 1.9%

Shares of SoFi Technologies stock traded up $0.46 on Monday, reaching $24.23. 45,223,951 shares of the company's stock were exchanged, compared to its average volume of 73,260,216. The company has a market capitalization of $29.01 billion, a P/E ratio of 99.04, a price-to-earnings-growth ratio of 2.94 and a beta of 1.93. SoFi Technologies, Inc. has a 52 week low of $6.75 and a 52 week high of $25.11. The firm's 50-day moving average is $19.41 and its two-hundred day moving average is $15.25. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The company had revenue of $519.37 million for the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%. SoFi Technologies's quarterly revenue was up 42.8% compared to the same quarter last year. During the same period last year, the business earned $0.01 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 10,267 shares of the company's stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $21.80, for a total transaction of $223,820.60. Following the sale, the executive vice president directly owned 245,200 shares of the company's stock, valued at $5,345,360. This represents a 4.02% decrease in their ownership of the stock. 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 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 transaction, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 273,181 shares of company stock valued at $4,043,240 in the last ninety days. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on SOFI shares. Mizuho set a $26.00 target price on shares of SoFi Technologies and gave the company an "outperform" rating in a research note on Thursday, July 31st. JMP Securities reaffirmed a "market perform" rating and set a $17.00 price objective on shares of SoFi Technologies in a research report on Monday, July 14th. Redburn Atlantic raised shares of SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. TD Cowen initiated coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating and a $21.00 price objective for the company. Finally, Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research report on Monday, August 4th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $18.29.

SoFi Technologies 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.