Patient Capital Management LLC Sells 1,544,007 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Patient Capital Management LLC reduced its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 26.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,251,680 shares of the company's stock after selling 1,544,007 shares during the period. SoFi Technologies comprises 3.0% of Patient Capital Management LLC's investment portfolio, making the stock its 14th largest holding. Patient Capital Management LLC owned approximately 0.39% of SoFi Technologies worth $65,476,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Man Group plc bought a new position in shares of SoFi Technologies during the fourth quarter valued at $6,906,000. Maven Securities LTD acquired a new stake in SoFi Technologies in the fourth quarter valued at $254,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in SoFi Technologies by 3.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 840,102 shares of the company's stock worth $12,939,000 after purchasing an additional 24,247 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in SoFi Technologies by 94.4% during the 4th quarter. Lazard Asset Management LLC now owns 19,649 shares of the company's stock worth $301,000 after buying an additional 9,539 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of SoFi Technologies in the 4th quarter valued at about $1,164,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Trading Up 2.6%

Shares of NASDAQ:SOFI traded up $0.35 on Friday, reaching $13.92. 56,350,231 shares of the company traded hands, compared to its average volume of 47,503,431. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. 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 business's 50-day simple moving average is $12.02 and its 200 day simple moving average is $13.91. The stock has a market capitalization of $15.39 billion, a P/E ratio of 37.62, a price-to-earnings-growth ratio of 2.24 and a beta of 1.84.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of $0.03 by $0.03. The business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. The business's quarterly revenue was up 32.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analysts Set New Price Targets

SOFI has been the subject of a number of analyst reports. Barclays raised their price objective on SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research report on Wednesday, April 30th. Dbs Bank raised shares of SoFi Technologies to a "strong-buy" rating in a research note on Friday, February 21st. JMP Securities began 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. Citizens Jmp assumed coverage on SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective for the company. Finally, William Blair restated an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $14.38.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 11,181 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.72, for a total transaction of $142,222.32. Following the transaction, the executive vice president now owns 226,210 shares in the company, valued at $2,877,391.20. The trade was a 4.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the chief technology officer now owns 655,118 shares of the company's stock, valued at approximately $8,280,691.52. This represents a 9.48% decrease in their position. The disclosure for this sale can be found here. Insiders sold 100,172 shares of company stock valued at $1,271,115 in the last quarter. Company insiders own 2.60% of the company's stock.

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.