Kovack Advisors Inc. Sells 54,479 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Kovack Advisors Inc. trimmed its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 40.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 80,540 shares of the company’s stock after selling 54,479 shares during the quarter. Kovack Advisors Inc.’s holdings in SoFi Technologies were worth $633,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SOFI. Envestnet Portfolio Solutions Inc. acquired a new position in shares of SoFi Technologies during the 1st quarter valued at about $79,000. Empowered Funds LLC grew its holdings in SoFi Technologies by 22.2% during the first quarter. Empowered Funds LLC now owns 47,854 shares of the company’s stock valued at $349,000 after purchasing an additional 8,707 shares during the last quarter. Swiss National Bank raised its position in shares of SoFi Technologies by 1.1% in the first quarter. Swiss National Bank now owns 1,798,400 shares of the company’s stock valued at $13,128,000 after purchasing an additional 19,600 shares during the period. QRG Capital Management Inc. lifted its stake in shares of SoFi Technologies by 4.0% in the first quarter. QRG Capital Management Inc. now owns 53,849 shares of the company’s stock worth $393,000 after buying an additional 2,095 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of SoFi Technologies by 341.0% during the 1st quarter. Russell Investments Group Ltd. now owns 43,624 shares of the company’s stock worth $318,000 after buying an additional 33,732 shares during the period. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Down 2.3 %

Shares of SOFI stock opened at $13.50 on Thursday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $14.44. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.21. The stock has a fifty day moving average price of $9.44 and a 200 day moving average price of $7.85. The stock has a market cap of $14.39 billion, a P/E ratio of 135.01, a price-to-earnings-growth ratio of 2.30 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The company had revenue of $697.10 million during the quarter, compared to the consensus estimate of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The firm’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned ($0.03) EPS. Analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the sale, the executive vice president now directly owns 161,511 shares in the company, valued at $1,290,472.89. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 111,636 shares of company stock worth $904,677. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Barclays lifted their target price on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 30th. Jefferies Financial Group boosted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their target price on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, 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. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $9.32.

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.