Sanctuary Advisors LLC Sells 70,621 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Sanctuary Advisors LLC cut its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 63.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,981 shares of the company's stock after selling 70,621 shares during the period. Sanctuary Advisors LLC's holdings in SoFi Technologies were worth $314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies in the third quarter valued at about $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies during the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC grew its stake in shares of SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company's stock valued at $29,000 after purchasing an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of SoFi Technologies in the third quarter valued at approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies in the 3rd quarter worth approximately $47,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SOFI shares. The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Needham & Company LLC lifted their price objective on SoFi Technologies from $10.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, October 30th. Jefferies Financial Group upped their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Bank of America reaffirmed an "underperform" rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Finally, Citigroup downgraded shares of SoFi Technologies from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 18th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and a consensus price target of $11.04.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares of the company's stock, valued at $2,926,632.75. This trade represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,009,264 shares of company stock worth $416,889,795. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Down 3.7 %

Shares of NASDAQ:SOFI traded down $0.62 during trading on Friday, hitting $15.98. 30,893,438 shares of the company's stock traded hands, compared to its average volume of 45,406,852. 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 company has a 50-day moving average price of $14.15 and a 200-day moving average price of $9.77. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $17.19. The company has a market cap of $17.34 billion, a price-to-earnings ratio of 159.82, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The company had revenue of $697.10 million during the quarter, compared to analysts' expectations of $631.59 million. During the same quarter in the prior year, the company earned ($0.03) earnings per share. The business's quarterly revenue was up 29.8% compared to the same quarter last year. As a group, research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.