Parkside Investments LLC Sells 81,050 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Parkside Investments LLC reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 10.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 670,960 shares of the company’s stock after selling 81,050 shares during the quarter. SoFi Technologies comprises about 1.6% of Parkside Investments LLC’s portfolio, making the stock its 24th biggest position. Parkside Investments LLC’s holdings in SoFi Technologies were worth $10,333,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake 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 valued at $141,974,000 after purchasing an additional 310,532 shares during the last quarter. Geode Capital Management LLC boosted its stake 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 valued at $138,523,000 after acquiring an additional 358,806 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after acquiring an additional 87,097 shares during the period. Azora Capital LP raised its position in shares of SoFi Technologies by 8.8% during the 3rd quarter. Azora Capital LP now owns 4,348,068 shares of the company’s stock valued at $34,176,000 after acquiring an additional 352,901 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of 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 period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total transaction of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 cost of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the executive vice president now owns 46,105 shares in the company, valued at approximately $753,355.70. This represents a 197.36 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $17.92 on Monday. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42. The stock has a 50 day moving average of $15.71 and a 200-day moving average of $11.08. 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 company has a market capitalization of $19.45 billion, a P/E ratio of 179.22, a P/E/G ratio of 1.19 and a beta of 1.78.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping 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%. During the same quarter in the previous year, the business earned $0.04 earnings per share. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays upped their price objective on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Wednesday, October 30th. Citigroup increased their price target on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Four equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $11.71.

SoFi Technologies 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.