SoFi Technologies, Inc. (NASDAQ:SOFI) Holdings Trimmed by QRG Capital Management Inc.

QRG Capital Management Inc. cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 15.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 236,615 shares of the company's stock after selling 44,176 shares during the period. QRG Capital Management Inc.'s holdings in SoFi Technologies were worth $2,752,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of SoFi Technologies in the 4th quarter worth about $27,000. Hollencrest Capital Management bought a new position in SoFi Technologies in the 4th quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $32,000. IAG Wealth Partners LLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $38,000. Finally, Elequin Capital LP raised 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 valued at $42,000 after buying an additional 631 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on SOFI shares. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. JMP Securities started coverage on SoFi Technologies in a research note on Friday, April 25th. They issued a "market outperform" rating and a $17.00 price target for the company. Truist Financial initiated coverage on shares of SoFi Technologies in a research note on Monday, June 2nd. They set a "hold" rating and a $14.00 price objective on the stock. Citizens Jmp initiated coverage on shares of SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective for the company. Finally, UBS Group raised their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research note on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have assigned 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 a consensus target price of $14.73.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI traded up $0.93 during trading hours on Thursday, hitting $15.36. 84,234,708 shares of the company's stock traded hands, compared to its average volume of 50,051,303. The company's fifty day simple moving average is $13.04 and its two-hundred day simple moving average is $13.96. The company has a market cap of $16.98 billion, a price-to-earnings ratio of 37.46, a price-to-earnings-growth ratio of 2.51 and a beta of 1.82. 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, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42.

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

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Monday, April 21st. The stock was 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. This trade represents a 4.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $13.95, for a total transaction of $1,215,603.00. Following the sale, the director now directly owns 376,398 shares of the company's stock, valued at $5,250,752.10. This represents a 18.80% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 196,981 shares of company stock valued at $2,743,434 in the last three months. 2.60% of the stock is currently owned by corporate insiders.

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.