SoFi Technologies, Inc. (NASDAQ:SOFI) Position Reduced by AlphaStar Capital Management LLC

AlphaStar Capital Management LLC lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 60.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 299,446 shares of the company’s stock after selling 453,652 shares during the quarter. SoFi Technologies makes up approximately 0.5% of AlphaStar Capital Management LLC’s holdings, making the stock its 29th biggest holding. AlphaStar Capital Management LLC’s holdings in SoFi Technologies were worth $4,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its holdings in shares of SoFi Technologies by 1.7% in the 3rd quarter. State Street Corp now owns 18,062,855 shares of the company’s stock worth $141,974,000 after purchasing an additional 310,532 shares during the last quarter. Geode Capital Management LLC increased its position in SoFi Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 17,619,084 shares of the company’s stock worth $138,523,000 after buying an additional 358,806 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of SoFi Technologies by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock valued at $48,306,000 after acquiring an additional 87,097 shares during the period. Azora Capital LP increased its holdings in shares of SoFi Technologies by 8.8% in the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock worth $34,176,000 after acquiring an additional 352,901 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its position in SoFi Technologies by 214.9% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock valued at $30,971,000 after purchasing an additional 2,688,847 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Stock Up 0.7 %

NASDAQ:SOFI opened at $14.91 on Friday. The business’s fifty day moving average price is $15.76 and its 200 day moving average price is $11.63. The firm has a market capitalization of $16.18 billion, a price-to-earnings ratio of 40.30, a PEG ratio of 2.04 and a beta of 1.77. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping the consensus estimate 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 company earned $0.04 earnings per share. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,590 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the transaction, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction dated Monday, December 16th. The shares were bought at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The disclosure for this purchase can be found here. Insiders have sold 26,008,870 shares of company stock worth $416,950,073 over the last 90 days. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Citigroup boosted their price objective on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. UBS Group increased their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Jefferies Financial Group increased their price objective on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $12.50.

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.