SoFi Technologies, Inc. $SOFI Stock Position Trimmed by Joule Financial LLC

Key Points

• Joule Financial LLC trimmed its SOFI stake by 54.5% in Q3, selling 27,031 shares and leaving 22,545 shares worth about $596,000.
• Insiders have been net sellers, offloading 167,245 shares (~$4.36M) in the last 90 days, including Arun Pinto and CTO Jeremy Rishel, leaving insiders with roughly 2.6% ownership.
• Analysts have a consensus "Hold" rating with an average target of $25.50, while SoFi recently beat quarterly EPS estimates ($0.11 vs. $0.09) and reported revenue of $949.6M, up 37.7% year-over-year.

Joule Financial LLC lowered its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 54.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,545 shares of the company's stock after selling 27,031 shares during the period. Joule Financial LLC's holdings in SoFi Technologies were worth $596,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AE Wealth Management LLC grew its holdings in shares of SoFi Technologies by 17.0% in the 3rd quarter. AE Wealth Management LLC now owns 21,790 shares of the company's stock worth $576,000 after acquiring an additional 3,170 shares during the last quarter. Tidemark LLC raised its holdings in shares of SoFi Technologies by 13.5% during the third quarter. Tidemark LLC now owns 5,550 shares of the company's stock worth $147,000 after acquiring an additional 658 shares in the last quarter. LRI Investments LLC bought a new stake in SoFi Technologies during the third quarter valued at about $73,000. Coastal Bridge Advisors LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter worth approximately $228,000. Finally, Traynor Capital Management Inc. increased its stake in SoFi Technologies by 32.1% in the third quarter. Traynor Capital Management Inc. now owns 23,630 shares of the company's stock valued at $624,000 after acquiring an additional 5,744 shares during the period. Institutional investors own 38.43% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on SOFI. Keefe, Bruyette & Woods boosted their price objective on SoFi Technologies from $18.00 to $20.00 and gave the stock an "underperform" rating in a research note on Wednesday, October 29th. Barclays boosted their price objective on shares of SoFi Technologies from $23.00 to $28.00 and gave the company an "equal weight" rating in a report on Tuesday, January 6th. Truist Financial cut their price objective on SoFi Technologies from $31.00 to $28.00 and set a "hold" rating on the stock in a report on Tuesday, November 25th. JPMorgan Chase & Co. upped their target price on shares of SoFi Technologies from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday, October 24th. Finally, Mizuho set a $38.00 price objective on shares of SoFi Technologies in a research report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $25.50.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $24.60 on Thursday. The company has a market cap of $29.67 billion, a P/E ratio of 45.56, a P/E/G ratio of 1.60 and a beta of 1.92. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. The business has a fifty day simple moving average of $27.01 and a 200 day simple moving average of $26.28. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business's quarterly revenue was up 37.7% on a year-over-year basis. During the same period last year, the company earned $0.05 earnings per share. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Arun Pinto sold 46,132 shares of the firm's stock in a transaction on Friday, November 21st. The stock was sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the sale, the insider directly owned 138,396 shares of the company's stock, valued at $3,426,684.96. This trade represents a 25.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 91,837 shares of the business's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total value of $2,446,537.68. Following the completion of the sale, the chief technology officer owned 794,598 shares in the company, valued at approximately $21,168,090.72. The trade was a 10.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 167,245 shares of company stock worth $4,362,815. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Company Profile

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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