NewSquare Capital LLC Sells 2,000 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

NewSquare Capital LLC lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,000 shares of the company’s stock after selling 2,000 shares during the period. NewSquare Capital LLC’s holdings in SoFi Technologies were worth $46,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its position in SoFi Technologies by 26.1% in the third quarter. Janney Montgomery Scott LLC now owns 135,063 shares of the company’s stock worth $1,062,000 after acquiring an additional 27,958 shares in the last quarter. QRG Capital Management Inc. lifted its stake in SoFi Technologies by 348.5% during the third quarter. QRG Capital Management Inc. now owns 256,078 shares of the company’s stock worth $2,013,000 after purchasing an additional 198,980 shares during the last quarter. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of SoFi Technologies in the 3rd quarter worth about $93,000. Concurrent Investment Advisors LLC increased its position in shares of SoFi Technologies by 16.5% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 104,203 shares of the company’s stock valued at $819,000 after purchasing an additional 14,787 shares during the last quarter. Finally, Lakeshore Financial Planning Inc. raised its holdings in shares of SoFi Technologies by 5.7% during the 3rd quarter. Lakeshore Financial Planning Inc. now owns 92,813 shares of the company’s stock valued at $730,000 after buying an additional 5,000 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the transaction, the director now owns 25,937 shares in the company, valued at approximately $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the sale, the chief technology officer now owns 586,494 shares in the company, valued at approximately $9,219,685.68. This trade represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 144,004 shares of company stock valued at $2,292,100. 2.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. The Goldman Sachs Group increased their target price 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. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research report on Monday, December 9th. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Finally, William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Stock Performance

NASDAQ:SOFI opened at $13.43 on Thursday. 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’s fifty day simple moving average is $15.39 and its 200 day simple moving average is $12.63. The stock has a market cap of $14.73 billion, a P/E ratio of 36.30, a price-to-earnings-growth ratio of 2.24 and a beta of 1.77. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the business posted $0.04 EPS. As a group, research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

SoFi Technologies Company 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.