SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,017 shares of the company’s stock after selling 1,512 shares during the quarter. Amalgamated Bank’s holdings in SoFi Technologies were worth $448,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Benjamin F. Edwards & Company Inc. grew its stake in shares of SoFi Technologies by 4,252.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in SoFi Technologies by 64.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after purchasing an additional 115,316 shares during the period. Mark Asset Management LP grew its position in SoFi Technologies by 79.9% in the 2nd quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock valued at $2,252,000 after buying an additional 151,265 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc increased its stake in SoFi Technologies by 233.3% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock valued at $661,000 after buying an additional 70,000 shares during the period. Finally, Diversify Advisory Services LLC raised its position in shares of SoFi Technologies by 7.4% during the 3rd quarter. Diversify Advisory Services LLC now owns 813,589 shares of the company’s stock worth $6,395,000 after buying an additional 56,245 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Up 1.7 %

Shares of SOFI opened at $13.63 on Friday. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $14.44. The stock has a market capitalization 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. The business’s 50-day moving average price is $9.70 and its 200 day moving average price is $7.94.

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

Insider Transactions at SoFi Technologies

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 value of $552,817.72. Following the transaction, the chief technology officer now owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 11.55 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 24,939 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was 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 in the company, valued at $830,594.82. This trade represents a 17.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 111,636 shares of company stock valued at $904,677 over the last quarter. Company insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.