Triumph Capital Management Trims Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Triumph Capital Management reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 82.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 69,446 shares of the company's stock after selling 315,744 shares during the period. Triumph Capital Management's holdings in SoFi Technologies were worth $1,069,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ bought a new position in shares of SoFi Technologies in the fourth quarter worth $27,000. Hollencrest Capital Management bought a new stake in SoFi Technologies during the fourth quarter valued at approximately $31,000. IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at $38,000. Legacy Investment Solutions LLC grew its holdings in SoFi Technologies by 116.3% in the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock worth $48,000 after acquiring an additional 1,744 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its stake 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 valued at $68,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI traded down $0.20 during midday trading on Wednesday, hitting $13.08. The stock had a trading volume of 10,475,761 shares, compared to its average volume of 47,583,640. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The company has a market capitalization of $14.45 billion, a PE ratio of 35.36, a P/E/G ratio of 2.24 and a beta of 1.84. The stock has a 50 day simple moving average of $12.15 and a 200-day simple moving average of $13.99.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. The business 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 quarterly revenue was up 32.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.02 earnings per share. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity

In related news, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $12.64, for a total value of $867,420.00. Following the sale, the chief technology officer now owns 655,118 shares of the company's stock, valued at $8,280,691.52. This trade represents a 9.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Kelli Keough sold 11,181 shares of the firm's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $12.72, for a total value of $142,222.32. Following the completion of the sale, the executive vice president now owns 226,210 shares in the company, valued at approximately $2,877,391.20. This represents a 4.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock worth $1,271,115 over the last ninety days. Corporate insiders own 2.60% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. JMP Securities initiated coverage on shares of SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price target on the stock. The Goldman Sachs Group raised their target price on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. Needham & Company LLC reissued a "buy" rating and issued a $20.00 price objective on shares of SoFi Technologies in a research note on Wednesday, April 30th. UBS Group increased 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. Finally, Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average price target of $14.38.

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.