Aldebaran Financial Inc. Sells 3,145 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Aldebaran Financial Inc. lessened its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,600 shares of the company’s stock after selling 3,145 shares during the quarter. Aldebaran Financial Inc.’s holdings in SoFi Technologies were worth $262,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new stake in SoFi Technologies in the first quarter worth about $27,000. Allspring Global Investments Holdings LLC boosted its position in shares of 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 purchasing an additional 1,543 shares in the last quarter. SOA Wealth Advisors LLC. boosted 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 valued at $33,000 after purchasing an additional 1,713 shares in the last quarter. GAMMA Investing LLC grew its stake in SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the period. Finally, Future Financial Wealth Managment LLC bought a new position in SoFi Technologies in the first quarter worth $37,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $7.86 on Tuesday. The firm’s 50-day moving average price is $7.38 and its 200-day moving average price is $7.16. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $10.49. The company has a market cap of $8.31 billion, a PE ratio of -25.35, a PEG ratio of 1.60 and a beta of 1.70. The company has a quick ratio of 0.21, a current ratio of 0.88 and a debt-to-equity ratio of 0.53.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 30th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates 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 firm’s revenue was up 20.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.06) EPS. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other SoFi Technologies news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $8.12, for a total transaction of $552,817.72. Following the completion of the sale, 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 can be accessed through this link. Also, EVP Kelli Keough sold 9,308 shares of the stock in a transaction that occurred on Monday, September 23rd. The stock was sold at an average price of $7.99, for a total transaction of $74,370.92. Following the completion of the transaction, the executive vice president now owns 161,511 shares in the company, valued at $1,290,472.89. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Barclays reduced their target price on shares of 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. Keefe, Bruyette & Woods cut their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating on the stock in a report on Tuesday, July 9th. Needham & Company LLC reiterated a “buy” rating and set a $10.00 target price on shares of SoFi Technologies in a report on Wednesday, July 31st. Finally, BTIG Research started coverage on SoFi Technologies in a research note on Friday, June 7th. They issued a “neutral” rating on the stock. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $9.14.

SoFi Technologies 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.