Concorde Asset Management LLC Has $125,000 Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Concorde Asset Management LLC lessened its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 14.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 18,874 shares of the company’s stock after selling 3,200 shares during the period. Concorde Asset Management LLC’s holdings in SoFi Technologies were worth $125,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC lifted its position in SoFi Technologies by 337.6% during the 2nd quarter. Hsbc Holdings PLC now owns 719,243 shares of the company’s stock worth $4,715,000 after buying an additional 554,866 shares in the last quarter. Amalgamated Bank lifted its position in SoFi Technologies by 10.7% during the 2nd quarter. Amalgamated Bank now owns 58,529 shares of the company’s stock valued at $387,000 after purchasing an additional 5,661 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in SoFi Technologies by 7.1% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 70,401 shares of the company’s stock valued at $465,000 after purchasing an additional 4,661 shares during the period. Perennial Investment Advisors LLC lifted its position in SoFi Technologies by 9.6% during the 2nd quarter. Perennial Investment Advisors LLC now owns 89,926 shares of the company’s stock valued at $594,000 after purchasing an additional 7,866 shares during the period. Finally, Edgestream Partners L.P. bought a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $1,720,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on SOFI. Keefe, Bruyette & Woods lowered their price target on SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research note on Tuesday, July 9th. BTIG Research began coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $10.00 price target on shares of SoFi Technologies in a research note on Wednesday, July 31st. Finally, Barclays lowered their price target on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.14.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $7.26, for a total transaction of $181,057.14. Following the completion of the transaction, the executive vice president now directly owns 114,407 shares of the company’s stock, valued at approximately $830,594.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Price Performance

NASDAQ SOFI opened at $8.19 on Friday. The business has a 50 day simple moving average of $7.29 and a 200 day simple moving average of $7.14. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $10.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of -26.42, a PEG ratio of 1.48 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly 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 company had revenue of $598.60 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the business earned ($0.06) EPS. Analysts anticipate that SoFi Technologies, Inc. will post 0.1 earnings per share 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.