Principal Financial Group Inc. Has $551,000 Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Principal Financial Group Inc. lessened its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 70,095 shares of the company’s stock after selling 8,634 shares during the quarter. Principal Financial Group Inc.’s holdings in SoFi Technologies were worth $551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Captrust Financial Advisors grew its stake in SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock valued at $233,000 after buying an additional 809 shares during the last quarter. Summit Trail Advisors LLC boosted its stake in SoFi Technologies by 0.3% during the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock valued at $2,204,000 after purchasing an additional 855 shares during the period. CIBC Asset Management Inc grew its stake in shares of SoFi Technologies by 3.5% in the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after acquiring an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC increased its holdings in shares of SoFi Technologies by 10.0% during the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after purchasing an additional 1,000 shares during the period. Finally, Stratos Wealth Advisors LLC raised its position in shares of SoFi Technologies by 3.3% during the third quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after buying an additional 1,054 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total transaction of $386,417,705.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 8,914 shares of the business’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total value of $138,969.26. Following the sale, the executive vice president now owns 187,725 shares in the company, valued at $2,926,632.75. This represents a 4.53 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,009,264 shares of company stock valued at $416,889,795. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Price Performance

Shares of SOFI opened at $14.84 on Monday. The company has a market cap of $16.10 billion, a price-to-earnings ratio of 148.41, a PEG ratio of 2.70 and a beta of 1.77. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $14.59 and its 200 day simple moving average is $10.09. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 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%. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) EPS. On average, research analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Mizuho boosted their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 18th. The Goldman Sachs Group raised their target price on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research report on Monday, December 9th. Finally, Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.13.

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.