Quantinno Capital Management LP Sells 123,323 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Quantinno Capital Management LP reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 56.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 93,749 shares of the company's stock after selling 123,323 shares during the period. Quantinno Capital Management LP's holdings in SoFi Technologies were worth $1,444,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. CIBC Private Wealth Group LLC grew its holdings in SoFi Technologies by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 60,534 shares of the company's stock valued at $881,000 after purchasing an additional 685 shares during the period. Game Plan Financial Advisors LLC grew its holdings in SoFi Technologies by 13.9% during the fourth quarter. Game Plan Financial Advisors LLC now owns 8,200 shares of the company's stock valued at $128,000 after purchasing an additional 1,000 shares during the period. Nomura Asset Management Co. Ltd. grew its holdings in SoFi Technologies by 33.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 4,400 shares of the company's stock valued at $68,000 after purchasing an additional 1,100 shares during the period. SOA Wealth Advisors LLC. grew its holdings in SoFi Technologies by 33.1% during the fourth quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company's stock valued at $87,000 after purchasing an additional 1,400 shares during the period. Finally, Pegasus Asset Management Inc. grew its holdings in SoFi Technologies by 1.3% during the fourth quarter. Pegasus Asset Management Inc. now owns 114,388 shares of the company's stock valued at $1,762,000 after purchasing an additional 1,437 shares during the period. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $13.19 on Friday. The firm has a market capitalization of $14.58 billion, a price-to-earnings ratio of 35.65, a P/E/G ratio of 2.24 and a beta of 1.84. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $18.42. The stock has a fifty day moving average of $12.18 and a 200 day moving average of $14.00. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.03. The company had revenue of $763.81 million during the quarter, compared to analyst estimates of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The firm's quarterly revenue was up 32.7% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. On average, research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the completion of the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. The trade was a 9.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of SoFi Technologies stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total value of $142,222.32. Following the sale, the executive vice president now directly owns 226,210 shares of the company's stock, valued at approximately $2,877,391.20. This trade represents a 4.71% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 102,507 shares of company stock valued at $1,283,528. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on SOFI shares. Citizens Jmp started coverage on SoFi Technologies in a report on Friday, April 25th. They set an "outperform" rating and a $17.00 price objective for the company. JMP Securities started coverage on SoFi Technologies in a report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective for the company. UBS Group increased their price objective on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a report on Wednesday, April 30th. Dbs Bank raised SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Finally, Barclays raised their price target on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a report on Wednesday, April 30th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $14.38.

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.

Want to see what other hedge funds are holding SOFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.