SeaCrest Wealth Management LLC Sells 3,451 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

SeaCrest Wealth Management LLC lessened its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,810 shares of the company’s stock after selling 3,451 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in SoFi Technologies were worth $203,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SOFI. GAMMA Investing LLC acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at $27,000. Westside Investment Management Inc. boosted its position in SoFi Technologies by 93.8% in the fourth quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in SoFi Technologies by 61.2% during the first quarter. SOA Wealth Advisors LLC. now owns 4,513 shares of the company’s stock worth $33,000 after buying an additional 1,713 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of SoFi Technologies during the first quarter worth approximately $37,000. Finally, Tortoise Investment Management LLC bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Up 1.1 %

SoFi Technologies stock opened at $6.52 on Friday. SoFi Technologies, Inc. has a fifty-two week low of $6.20 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.93 and a quick ratio of 0.24. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -21.03, a PEG ratio of 1.49 and a beta of 1.70. The company’s 50 day simple moving average is $6.86 and its 200 day simple moving average is $7.64.

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

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and lifted their price target for the company from $6.50 to $7.50 in a report on Friday, April 5th. Jefferies Financial Group decreased their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research note on Tuesday, March 26th. Wedbush reissued an “underperform” rating and issued a $3.00 price target on shares of SoFi Technologies in a report on Tuesday, April 30th. Citigroup initiated coverage on SoFi Technologies in a report on Monday, April 8th. They set a “buy” rating and a $11.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.32.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CEO Anthony Noto purchased 28,900 shares of the company’s stock in a transaction dated Thursday, May 23rd. The shares were bought at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the transaction, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Anthony Noto acquired 28,900 shares of the stock in a transaction dated Thursday, May 23rd. The stock was bought at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the transaction, the chief executive officer now directly owns 8,062,269 shares of the company’s stock, valued at $55,790,901.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $6.41, for a total transaction of $360,709.93. Following the sale, the chief technology officer now owns 453,464 shares in the company, valued at $2,906,704.24. The disclosure for this sale can be found here. Over the last ninety days, insiders acquired 88,390 shares of company stock valued at $597,569. Company 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.