Oppenheimer & Co. Inc. Sells 123,285 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Oppenheimer & Co. Inc. cut its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 33.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 242,154 shares of the company's stock after selling 123,285 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in SoFi Technologies were worth $2,816,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in SOFI. Elequin Capital LP lifted its holdings in shares of SoFi Technologies by 30.1% during the fourth quarter. Elequin Capital LP now owns 2,726 shares of the company's stock worth $42,000 after buying an additional 631 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock worth $881,000 after buying an additional 685 shares in the last quarter. Bank of New Hampshire lifted its holdings in shares of SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after buying an additional 1,000 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of SoFi Technologies by 33.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock worth $68,000 after buying an additional 1,100 shares in the last quarter. Finally, Compass Capital Corp MA ADV lifted its holdings 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 worth $131,000 after buying an additional 1,260 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Trading Up 4.3%

Shares of NASDAQ SOFI opened at $16.77 on Friday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The stock has a market cap of $18.54 billion, a P/E ratio of 40.90, a price-to-earnings-growth ratio of 2.72 and a beta of 1.82. The firm has a 50-day moving average of $13.64 and a 200 day moving average of $13.96. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $739.93 million. During the same period last year, the business earned $0.02 EPS. SoFi Technologies's revenue was up 32.7% compared to the same quarter last year. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SOFI. Stephens began coverage on SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target for the company. Barclays boosted their price target on SoFi Technologies from $11.00 to $12.00 and gave the company an "equal weight" rating in a research note on Wednesday, April 30th. Truist Financial began coverage on SoFi Technologies in a research note on Monday, June 2nd. They issued a "hold" rating and a $14.00 price target for the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $20.00 price target on shares of SoFi Technologies in a research note on Wednesday, April 30th. Finally, JMP Securities initiated coverage on SoFi Technologies in a research report on Friday, April 25th. They issued a "market outperform" rating and a $17.00 target price on the stock. Three analysts have rated the stock with a sell rating, five have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average target price of $14.73.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction on Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the transaction, the executive vice president now owns 215,029 shares of the company's stock, valued at approximately $2,302,960.59. The trade was a 4.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the business's stock in a transaction 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 sale, the chief technology officer now owns 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 274,095 shares of company stock valued at $3,939,168 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

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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