SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Sanctuary Advisors LLC

Sanctuary Advisors LLC cut its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 63.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,981 shares of the company’s stock after selling 70,621 shares during the period. Sanctuary Advisors LLC’s holdings in SoFi Technologies were worth $314,000 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. Raymond James & Associates grew its holdings in SoFi Technologies by 28.6% during the second quarter. Raymond James & Associates now owns 520,301 shares of the company’s stock worth $3,439,000 after acquiring an additional 115,639 shares during the period. Raymond James Trust N.A. purchased a new position in shares of SoFi Technologies during the 2nd quarter valued at approximately $95,000. Bank of New York Mellon Corp boosted its holdings in SoFi Technologies by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company’s stock worth $20,604,000 after buying an additional 443,198 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in SoFi Technologies by 55.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Finally, Cambridge Investment Research Advisors Inc. grew its position in SoFi Technologies by 7.2% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 260,498 shares of the company’s stock valued at $1,722,000 after buying an additional 17,384 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $15.98 on Friday. The stock has a market cap of $17.34 billion, a price-to-earnings ratio of 159.82, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The firm has a 50 day simple moving average of $14.15 and a 200-day simple moving average of $9.75. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share (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 firm had revenue of $697.10 million for the quarter, compared to analyst estimates of $631.59 million. During the same period in the previous year, the firm earned ($0.03) EPS. SoFi Technologies’s revenue was up 29.8% on a year-over-year basis. On average, analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 64,991 shares of SoFi Technologies stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. The trade was a 9.98 % 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 9,308 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares in the company, valued at $1,576,823.08. This represents a 5.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,009,264 shares of company stock valued at $416,889,795 over the last quarter. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research note on Monday, December 2nd. Mizuho increased their price target on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group boosted their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Jefferies Financial Group boosted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $11.04.

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.