Orion Portfolio Solutions LLC Decreases Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Orion Portfolio Solutions LLC trimmed its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,585 shares of the company’s stock after selling 2,787 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in SoFi Technologies were worth $170,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SOFI. Dimensional Fund Advisors LP grew its stake in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after acquiring an additional 9,482,683 shares during the last quarter. Marshall Wace LLP grew its position in SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after purchasing an additional 3,593,464 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in SoFi Technologies by 214.9% during 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 in the last quarter. Mizuho Markets Americas LLC raised its holdings in shares of SoFi Technologies by 403.4% in the second quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock worth $20,132,000 after buying an additional 2,440,745 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies during the third quarter worth $16,014,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at SoFi Technologies

In other news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the transaction, the director now owns 482,083 shares in the company, valued at $7,742,252.98. This trade represents a 78.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 9,308 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at $1,576,823.08. The trade was a 5.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,658 shares of company stock valued at $416,825,197 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of several research reports. Morgan Stanley upped their target price on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday. Bank of America restated an “underperform” rating and issued a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. 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. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Citigroup downgraded shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $11.04.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $15.35 on Friday. The stock has a market capitalization of $16.66 billion, a PE ratio of 153.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 52 week low of $6.01 and a 52 week high of $17.19. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock’s 50-day moving average price is $13.55 and its 200-day moving average price is $9.43.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The business had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the previous year, the business earned ($0.03) earnings per share. The business’s revenue was up 29.8% compared to the same quarter last year. As a group, equities analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal 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.