PDT Partners LLC Decreases Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

PDT Partners LLC lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 60.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 290,557 shares of the company's stock after selling 450,033 shares during the period. PDT Partners LLC's holdings in SoFi Technologies were worth $4,475,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $27,000. Hollencrest Capital Management purchased a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $31,000. FNY Investment Advisers LLC boosted its position in shares of SoFi Technologies by 727.1% during 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 during the last quarter. IAG Wealth Partners LLC purchased a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $38,000. Finally, Legacy Investment Solutions LLC boosted its position in shares of SoFi Technologies by 116.3% during the fourth quarter. Legacy Investment Solutions LLC now owns 3,244 shares of the company's stock valued at $48,000 after buying an additional 1,744 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 68,625 shares of the company's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $12.64, for a total transaction of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company's stock, valued at $8,280,691.52. This represents a 9.48 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 11,181 shares of the company's stock in a transaction dated Monday, April 21st. The shares were sold at an average price of $10.71, for a total value of $119,748.51. Following the transaction, the executive vice president now directly owns 215,029 shares in the company, valued at $2,302,960.59. This represents a 4.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,172 shares of company stock valued at $1,271,115. Company insiders own 2.60% of the company's stock.

SoFi Technologies Stock Down 5.7 %

Shares of NASDAQ:SOFI traded down $0.76 during midday trading on Wednesday, reaching $12.51. The company's stock had a trading volume of 85,781,683 shares, compared to its average volume of 46,741,751. The firm has a market capitalization of $13.72 billion, a P/E ratio of 33.81, a PEG ratio of 2.24 and a beta of 1.86. The firm has a 50 day moving average of $12.05 and a 200-day moving average of $13.70. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. 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 (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating 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 business had revenue of $763.81 million for the quarter, compared to analysts' expectations of $739.93 million. During the same quarter in the prior year, the business earned $0.02 EPS. The business's revenue for the quarter was up 32.7% compared to the same quarter last year. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SOFI. 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 target price on the stock. Citizens Jmp started coverage on SoFi Technologies in a research report on Friday, April 25th. They issued an "outperform" rating and a $17.00 price objective on the stock. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $8.50 to $9.50 and gave the stock a "neutral" rating in a research report on Tuesday, January 28th. William Blair reissued an "outperform" rating on shares of SoFi Technologies in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods restated an "underperform" rating and issued a $8.00 target price (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and an average target price of $13.40.

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.