SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Wellington Wealth Strategies LLC.

Wellington Wealth Strategies LLC. decreased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 38.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,728 shares of the company’s stock after selling 17,320 shares during the period. Wellington Wealth Strategies LLC.’s holdings in SoFi Technologies were worth $202,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Wells Fargo & Company MN grew its stake in SoFi Technologies by 20.9% in the 4th quarter. Wells Fargo & Company MN now owns 2,854,098 shares of the company’s stock valued at $28,398,000 after acquiring an additional 493,707 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in SoFi Technologies by 176.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock valued at $78,601,000 after purchasing an additional 6,870,610 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $38,595,000. Level Four Advisory Services LLC increased its stake in shares of SoFi Technologies by 40.1% during the fourth quarter. Level Four Advisory Services LLC now owns 28,064 shares of the company’s stock worth $279,000 after purchasing an additional 8,039 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of SoFi Technologies by 384.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 142,534 shares of the company’s stock worth $1,418,000 after purchasing an additional 113,100 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the subject of several research reports. Citigroup began coverage on SoFi Technologies in a research note on Monday, April 8th. They set a “buy” rating and a $11.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a research report on Tuesday, July 2nd. Deutsche Bank Aktiengesellschaft decreased their price objective on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday, April 30th. BTIG Research assumed coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They set a “neutral” rating on the stock. Finally, Barclays reduced their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $9.44.

SoFi Technologies Trading Up 1.9 %

Shares of SoFi Technologies stock traded up $0.14 during mid-day trading on Friday, hitting $7.41. The stock had a trading volume of 23,045,002 shares, compared to its average volume of 46,534,094. The firm has a 50-day moving average of $6.86 and a two-hundred day moving average of $7.39. The firm has a market cap of $7.83 billion, a P/E ratio of -23.55, a price-to-earnings-growth ratio of 1.65 and a beta of 1.70. The company has a quick ratio of 0.24, a current ratio of 0.93 and a debt-to-equity ratio of 0.50. SoFi Technologies, Inc. has a 12-month low of $6.15 and a 12-month high of $11.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.01. SoFi Technologies had a positive return on equity of 1.10% and a negative net margin of 8.21%. The company had revenue of $580.60 million during the quarter, compared to analyst estimates of $555.27 million. During the same period in the prior year, the business posted ($0.05) earnings per share. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.08 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Anthony Noto bought 28,775 shares of the stock in a transaction on Friday, May 3rd. The stock was bought at an average price of $6.90 per share, with a total value of $198,547.50. Following the completion of the purchase, the chief executive officer now directly owns 8,033,369 shares in the company, valued at approximately $55,430,246.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Anthony Noto bought 28,775 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were bought at an average price of $6.90 per share, with a total value of $198,547.50. Following the completion of the transaction, the chief executive officer now directly owns 8,033,369 shares in the company, valued at $55,430,246.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Qatar Investment Authority sold 19,840,073 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $6.78, for a total value of $134,515,694.94. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 88,390 shares of company stock valued at $597,569. 2.60% of the stock is currently owned by insiders.

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.