Transcend Capital Advisors LLC Trims Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Transcend Capital Advisors LLC lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 15.6% during the 4th quarter, Holdings Channel reports. The firm owned 10,165 shares of the company’s stock after selling 1,883 shares during the quarter. Transcend Capital Advisors LLC’s holdings in SoFi Technologies were worth $157,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd purchased a new position in SoFi Technologies during the 3rd quarter worth approximately $16,014,000. Zacks Investment Management acquired a new stake in SoFi Technologies during the 3rd quarter valued at approximately $3,766,000. Point72 DIFC Ltd purchased a new stake in shares of SoFi Technologies in the 3rd quarter valued at $3,219,000. Finally, Rockefeller Capital Management L.P. boosted its holdings in shares of SoFi Technologies by 20.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock valued at $17,365,000 after acquiring an additional 376,899 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. This represents a 78.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was purchased at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. This represents a 197.36 % increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have sold 26,008,465 shares of company stock valued at $416,952,167. 2.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on SOFI. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Jefferies Financial Group lifted their price objective on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. 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. Needham & Company LLC lifted their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Trading Down 2.1 %

Shares of SOFI stock opened at $14.36 on Tuesday. The stock has a 50 day simple moving average of $15.65 and a 200-day simple moving average of $12.32. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a market cap of $15.58 billion, a price-to-earnings ratio of 38.81, a PEG ratio of 2.24 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping 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 in the previous year, the firm earned $0.04 earnings per share. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS 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.