Hudock Inc. Sells 24,258 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Hudock Inc. reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 26.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,372 shares of the company’s stock after selling 24,258 shares during the quarter. Hudock Inc.’s holdings in SoFi Technologies were worth $537,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Stratos Wealth Advisors LLC increased its position in shares of SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the period. NBC Securities Inc. raised its position in shares of SoFi Technologies by 12.7% in the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock worth $75,000 after acquiring an additional 1,081 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after purchasing an additional 1,543 shares during the period. Pegasus Asset Management Inc. boosted its position in shares of SoFi Technologies by 1.4% during the third quarter. Pegasus Asset Management Inc. now owns 112,951 shares of the company’s stock valued at $888,000 after purchasing an additional 1,607 shares in the last quarter. Finally, Kennedy Investment Group grew its stake in SoFi Technologies by 1.6% in the third quarter. Kennedy Investment Group now owns 118,000 shares of the company’s stock worth $927,000 after purchasing an additional 1,900 shares during the period. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Up 2.4 %

SOFI stock traded up $0.26 on Friday, hitting $11.19. 13,134,272 shares of the company’s stock were exchanged, compared to its average volume of 45,773,977. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The stock has a market cap of $11.83 billion, a P/E ratio of -35.26, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The firm has a 50 day moving average price of $8.23 and a two-hundred day moving average price of $7.42. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $11.32.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. During the same quarter in the prior year, the business posted ($0.06) EPS. SoFi Technologies’s revenue for the quarter was up 20.2% compared to the same quarter last year. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Analyst Ratings Changes

SOFI has been the topic of a number of recent research reports. Keefe, Bruyette & Woods reduced their target price on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a research report on Tuesday, July 9th. Barclays cut their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a research note on Wednesday, July 31st. Finally, Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.25.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares in the company, valued at $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 111,636 shares of company stock worth $904,677 in the last 90 days. Insiders own 2.60% of the company’s stock.

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.