Burney Co. Reduces Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Burney Co. lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 43.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 101,679 shares of the company’s stock after selling 79,680 shares during the quarter. Burney Co.’s holdings in SoFi Technologies were worth $1,566,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in SoFi Technologies by 6.9% in the 2nd quarter. Victory Capital Management Inc. now owns 127,342 shares of the company’s stock valued at $842,000 after buying an additional 8,267 shares during the period. Choreo LLC purchased a new stake in shares of SoFi Technologies in the 2nd quarter valued at approximately $101,000. Dimensional Fund Advisors LP lifted its holdings in shares of SoFi Technologies by 263.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of SoFi Technologies during the 2nd quarter worth approximately $1,720,000. Finally, Mercer Global Advisors Inc. ADV increased its holdings in SoFi Technologies by 7.1% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company’s stock valued at $465,000 after purchasing an additional 4,661 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SOFI. Mizuho upped their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays boosted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group raised their price objective 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. Finally, JPMorgan Chase & Co. upped their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $11.71.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s 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 completion of the sale, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the transaction, the executive vice president now owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,009,264 shares of company stock valued at $416,889,795 over the last three months. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $16.30 on Friday. 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 fifty day simple moving average of $15.16 and a 200-day simple moving average of $10.52. The stock has a market cap of $17.69 billion, a P/E ratio of 163.02, a price-to-earnings-growth ratio of 0.96 and a beta of 1.78. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $17.19.

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

SoFi Technologies 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.