SoFi Technologies, Inc. (NASDAQ:SOFI) is Prentice Capital Management LP's 7th Largest Position

Prentice Capital Management LP reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 20.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 199,581 shares of the company's stock after selling 50,536 shares during the period. SoFi Technologies comprises about 5.3% of Prentice Capital Management LP's holdings, making the stock its 7th largest holding. Prentice Capital Management LP's holdings in SoFi Technologies were worth $3,074,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SOFI. Skandinaviska Enskilda Banken AB publ purchased a new stake in shares of SoFi Technologies during the fourth quarter worth $27,000. Hollencrest Capital Management acquired a new position in SoFi Technologies during the 4th quarter worth $31,000. FNY Investment Advisers LLC increased its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock worth $33,000 after purchasing an additional 1,905 shares during the period. IAG Wealth Partners LLC purchased a new stake in SoFi Technologies during the 4th quarter worth about $38,000. Finally, Legacy Investment Solutions LLC raised its position in SoFi Technologies by 116.3% in the 4th quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock valued at $48,000 after purchasing an additional 1,744 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

Shares of SOFI stock traded up $0.35 during mid-day trading on Friday, hitting $13.92. 56,350,231 shares of the stock were exchanged, compared to its average volume of 47,503,434. The stock's fifty day simple moving average is $12.07 and its two-hundred day simple moving average is $13.94. 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, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The stock has a market capitalization of $15.39 billion, a price-to-earnings ratio of 37.62, a P/E/G ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.02 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity

In related news, EVP Kelli Keough sold 11,181 shares of the business's 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 in the company, valued at $2,302,960.59. The trade was a 4.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 68,625 shares of the company'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 directly owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 100,172 shares of company stock valued at $1,271,115 in the last ninety days. 2.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of analyst reports. JMP Securities started coverage on SoFi Technologies in a research report on Friday, April 25th. They set a "market outperform" rating and a $17.00 price objective for the company. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a report on Friday, February 21st. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a "neutral" rating in a research report on Tuesday, January 28th. William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, UBS Group boosted their target price on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock 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 issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus 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.