Cresset Asset Management LLC Decreases Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Cresset Asset Management LLC cut its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 50.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 438,581 shares of the company's stock after selling 449,567 shares during the period. Cresset Asset Management LLC's holdings in SoFi Technologies were worth $6,754,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SOFI. Skandinaviska Enskilda Banken AB publ acquired a new stake in SoFi Technologies in the fourth quarter valued at about $27,000. Hollencrest Capital Management acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $31,000. FNY Investment Advisers LLC boosted its stake in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company's stock valued at $33,000 after buying an additional 1,905 shares in the last quarter. IAG Wealth Partners LLC purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC grew its holdings in SoFi Technologies by 116.3% during the fourth 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 period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Trading Down 0.6 %

Shares of SoFi Technologies stock traded down $0.08 during mid-day trading on Friday, hitting $13.18. 53,113,102 shares of the stock were exchanged, compared to its average volume of 47,009,331. The company has a 50-day simple moving average of $11.89 and a 200 day simple moving average of $13.83. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $14.45 billion, a price-to-earnings ratio of 35.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month 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, topping the consensus estimate of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The firm had revenue of $763.81 million during the quarter, compared to analysts' expectations of $739.93 million. During the same period in the previous year, the company earned $0.02 EPS. SoFi Technologies's revenue for the quarter was up 32.7% on a year-over-year basis. Research analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

SOFI has been the topic of a number of recent analyst reports. William Blair reaffirmed an "outperform" rating on shares of SoFi Technologies in a research note on Friday, January 24th. Dbs Bank upgraded shares of SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. Citigroup lifted their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. Citizens Jmp initiated coverage on SoFi Technologies in a report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price target on the stock. Finally, The Goldman Sachs Group lifted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $14.38.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 9,185 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the completion of the transaction, the executive vice president now owns 169,626 shares of the company's stock, valued at $2,617,329.18. This represents a 5.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 68,625 shares of the firm's stock in a transaction that occurred on 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 directly owns 655,118 shares in the company, valued at $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. Over the last ninety days, insiders have sold 100,172 shares of company stock worth $1,271,115. 2.60% of the stock is owned by company insiders.

About SoFi Technologies

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.