Transcend Capital Advisors LLC Sells 1,883 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Transcend Capital Advisors LLC cut its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 15.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,165 shares of the company’s stock after selling 1,883 shares during the period. Transcend Capital Advisors LLC’s holdings in SoFi Technologies were worth $157,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in SOFI. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies during the third quarter valued at approximately $27,000. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter worth approximately $28,000. FNY Investment Advisers LLC boosted its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after acquiring an additional 1,905 shares during the period. SouthState Corp bought a new position in SoFi Technologies in the 3rd quarter valued at $67,000. Finally, Huntington National Bank grew its position in SoFi Technologies by 442.0% in the 3rd 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. 38.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SOFI has been the subject of several research analyst reports. UBS Group lifted their target price on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Barclays boosted their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Bank of America reaffirmed an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Four analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $12.50.

Insider Activity

In other news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the sale, the director now owns 482,083 shares in the company, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $15.59, for a total transaction of $138,969.26. Following the transaction, the executive vice president now owns 187,725 shares in the company, valued at approximately $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 quarter, insiders sold 26,008,465 shares of company stock worth $416,952,167. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 2.1 %

SoFi Technologies stock opened at $14.36 on Tuesday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $15.58 billion, a P/E ratio of 38.81, a P/E/G ratio of 2.24 and a beta of 1.77. The business has a fifty day moving average of $15.65 and a two-hundred day moving average of $12.32. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly 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 period last year, the business posted $0.04 earnings per share. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share 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.