SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Newbridge Financial Services Group Inc.

Newbridge Financial Services Group Inc. lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 62.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 109,000 shares of the company’s stock after selling 180,476 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in SoFi Technologies were worth $720,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SOFI. ORG Partners LLC purchased a new stake in SoFi Technologies during the first quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after acquiring an additional 1,543 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in shares of 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 acquiring an additional 1,713 shares during the period. GAMMA Investing LLC increased its position in shares of SoFi Technologies by 65.3% during the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after acquiring an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in SoFi Technologies in the first quarter valued at $37,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Needham & Company LLC restated a “buy” rating and set a $10.00 price target on shares of SoFi Technologies in a report on Wednesday, July 31st. Keefe, Bruyette & Woods cut 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 note on Tuesday, July 9th. BTIG Research initiated coverage on shares of SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Finally, Barclays cut their target price on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, July 9th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.14.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares in the company, valued at $830,594.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 24,939 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Stock Down 2.9 %

Shares of NASDAQ:SOFI opened at $7.63 on Wednesday. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $10.49. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The stock has a market cap of $8.07 billion, a P/E ratio of -24.61, a P/E/G ratio of 1.60 and a beta of 1.70. The firm has a fifty day moving average price of $7.38 and a 200 day moving average price of $7.17.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. The business had revenue of $598.60 million during the quarter, compared to the consensus estimate of $565.19 million. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.25%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

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.