EP Wealth Advisors LLC Sells 7,079 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

EP Wealth Advisors LLC cut its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375,765 shares of the company’s stock after selling 7,079 shares during the quarter. EP Wealth Advisors LLC’s holdings in SoFi Technologies were worth $2,954,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its position in shares of SoFi Technologies by 15.2% in the first quarter. Tidal Investments LLC now owns 33,733 shares of the company’s stock worth $246,000 after buying an additional 4,459 shares during the last quarter. Comerica Bank lifted its holdings in SoFi Technologies by 27.1% in the 1st quarter. Comerica Bank now owns 23,782 shares of the company’s stock worth $174,000 after purchasing an additional 5,071 shares during the last quarter. GAMMA Investing LLC boosted its position in SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the period. CWM LLC grew its holdings in SoFi Technologies by 21.7% during the second quarter. CWM LLC now owns 51,284 shares of the company’s stock valued at $339,000 after purchasing an additional 9,151 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of SoFi Technologies by 6.0% in the second quarter. QRG Capital Management Inc. now owns 57,098 shares of the company’s stock valued at $377,000 after purchasing an additional 3,249 shares during the period. 38.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Citigroup downgraded SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. 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. Mizuho raised their target price on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group upped their price target on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and a consensus target price of $10.36.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $16.02 on Monday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $16.61. 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 business has a fifty day simple moving average of $12.04 and a 200 day simple moving average of $8.84. The firm has a market capitalization of $17.38 billion, a price-to-earnings ratio of 160.22, a PEG ratio of 2.71 and a beta of 1.77.

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

Insider Buying and Selling at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now directly owns 161,511 shares in the company, valued at approximately $1,290,472.89. This represents a 5.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,960,748 shares of company stock valued at $415,523,316. 2.60% of the stock is currently owned by corporate insiders.

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.