IFP Advisors Inc Has $1.60 Million Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

IFP Advisors Inc reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 103,561 shares of the company’s stock after selling 7,386 shares during the quarter. IFP Advisors Inc’s holdings in SoFi Technologies were worth $1,595,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SOFI. Capital Performance Advisors LLP bought a new stake in SoFi Technologies during the third quarter worth about $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at approximately $28,000. FNY Investment Advisers LLC lifted its holdings in shares of 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 acquiring an additional 1,905 shares during the period. SouthState Corp acquired a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $67,000. Finally, Huntington National Bank increased its stake in SoFi Technologies by 442.0% in the third quarter. Huntington National Bank now owns 8,856 shares of the company’s stock valued at $70,000 after acquiring an additional 7,222 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now owns 482,083 shares in the company, valued at $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,185 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $15.43, for a total transaction of $141,724.55. Following the sale, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. This trade represents a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,008,465 shares of company stock worth $416,952,167 over the last ninety days. Insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $14.47 on Thursday. The firm has a market cap of $15.70 billion, a PE ratio of 39.11, a price-to-earnings-growth ratio of 2.24 and a beta of 1.78. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $18.42. The firm’s fifty day moving average is $15.58 and its 200-day moving average is $12.39. 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 (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the firm posted $0.04 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup upped their target price on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research note on Tuesday, January 14th. Needham & Company LLC upped their price objective on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. Finally, The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and a consensus target price of $12.50.

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.