Axxcess Wealth Management LLC Lowers Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Axxcess Wealth Management LLC decreased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 34.6% during the third quarter, according to its most recent filing with the SEC. The firm owned 16,479 shares of the company’s stock after selling 8,703 shares during the period. Axxcess Wealth Management LLC’s holdings in SoFi Technologies were worth $130,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SOFI. Capital Performance Advisors LLP purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth $27,000. Allspring Global Investments Holdings LLC raised its holdings in 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 purchasing an additional 1,543 shares in the last quarter. GAMMA Investing LLC lifted 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 valued at $33,000 after buying an additional 1,981 shares during the last quarter. Waldron Private Wealth LLC bought a new stake in shares of SoFi Technologies in the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $47,000. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of analyst reports. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Needham & Company LLC increased their price objective on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays upped their target price on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Jefferies Financial Group raised their price target on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, SoFi Technologies has an average rating of “Hold” and an average target price of $9.32.

Insider Transactions at SoFi Technologies

In other 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 transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 24,939 shares of SoFi Technologies 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 owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. This represents a 17.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 111,636 shares of company stock worth $904,677 over the last quarter. 2.60% of the stock is currently owned by insiders.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $13.63 on Friday. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $14.44. The business’s 50 day moving average price is $9.70 and its 200 day moving average price is $7.93. The company has a quick ratio of 0.21, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $14.53 billion, a P/E ratio of 136.30, a P/E/G ratio of 2.25 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.71%. The business had revenue of $697.10 million for the quarter, compared to the consensus estimate of $631.59 million. During the same period in the prior year, the firm earned ($0.03) EPS. The business’s revenue for the quarter was up 29.8% on a year-over-year basis. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

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.