Parkside Investments LLC Sells 244,840 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Parkside Investments LLC reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 36.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 426,120 shares of the company's stock after selling 244,840 shares during the quarter. Parkside Investments LLC's holdings in SoFi Technologies were worth $4,956,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SOFI. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 9.9% in the 4th quarter. Vanguard Group Inc. now owns 98,337,045 shares of the company's stock valued at $1,514,390,000 after purchasing an additional 8,898,879 shares during the period. Two Sigma Advisers LP bought a new position in shares of SoFi Technologies during the fourth quarter worth about $299,980,000. Geode Capital Management LLC raised its position in SoFi Technologies by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 17,934,983 shares of the company's stock valued at $276,288,000 after buying an additional 315,899 shares during the last quarter. Norges Bank bought a new stake in SoFi Technologies in the 4th quarter valued at approximately $103,678,000. Finally, Charles Schwab Investment Management Inc. boosted its position in SoFi Technologies by 2.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,313,617 shares of the company's stock worth $97,230,000 after acquiring an additional 167,780 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now owns 655,118 shares in the company, valued at $8,280,691.52. This trade represents a 9.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $12.72, for a total transaction of $142,222.32. Following the completion of the sale, the executive vice president now directly owns 226,210 shares of the company's stock, valued at approximately $2,877,391.20. The trade was a 4.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 276,787 shares of company stock worth $3,753,076 over the last three months. Insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

Shares of SOFI stock traded down $0.81 during trading on Friday, reaching $14.09. 76,609,263 shares of the company's stock were exchanged, compared to its average volume of 49,758,666. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42. The firm's fifty day moving average price is $12.70 and its 200-day moving average price is $14.00. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.57 billion, a PE ratio of 38.08, a PEG ratio of 2.24 and a beta of 1.82.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The company's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.02 earnings per share. As a group, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on SOFI shares. UBS Group lifted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Stephens assumed coverage on shares of SoFi Technologies in a research note on Thursday. They issued an "overweight" rating and a $20.00 price target on the stock. Citizens Jmp began coverage on shares of SoFi Technologies in a research note on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective for the company. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Finally, Truist Financial started coverage on 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 investment analysts have rated the stock with a sell rating, five have given a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $14.73.

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.