Janney Montgomery Scott LLC Sells 9,319 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Janney Montgomery Scott LLC trimmed its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 125,744 shares of the company’s stock after selling 9,319 shares during the quarter. Janney Montgomery Scott LLC’s holdings in SoFi Technologies were worth $1,936,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sei Investments Co. grew its holdings in shares of SoFi Technologies by 8.8% during the second quarter. Sei Investments Co. now owns 38,976 shares of the company’s stock worth $258,000 after purchasing an additional 3,139 shares during the last quarter. AQR Capital Management LLC boosted its position in SoFi Technologies by 58.8% during the 2nd quarter. AQR Capital Management LLC now owns 115,186 shares of the company’s stock worth $756,000 after buying an additional 42,660 shares during the period. The Manufacturers Life Insurance Company grew its holdings in SoFi Technologies by 12.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 263,826 shares of the company’s stock worth $1,744,000 after acquiring an additional 30,206 shares during the last quarter. Sanctuary Advisors LLC bought a new stake in SoFi Technologies during the 2nd quarter worth approximately $731,000. Finally, Park Avenue Securities LLC increased its position in SoFi Technologies by 45.1% in the 3rd quarter. Park Avenue Securities LLC now owns 14,782 shares of the company’s stock valued at $116,000 after acquiring an additional 4,592 shares during the period. Institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other SoFi Technologies news, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of SoFi Technologies stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $16.06, for a total transaction of $28,242,361.18. Following the completion of the transaction, the director now owns 482,083 shares in the company, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the sale, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,008,870 shares of company stock worth $416,950,073. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

SOFI has been the topic of several analyst reports. Morgan Stanley boosted their price objective on shares of SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research note on Thursday, December 19th. Citigroup upped their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. UBS Group increased their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research note on Thursday, January 2nd. Finally, Mizuho increased their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $12.50.

SoFi Technologies Stock Down 4.0 %

Shares of NASDAQ SOFI opened at $15.78 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market cap of $17.12 billion, a PE ratio of 42.65, a P/E/G ratio of 2.15 and a beta of 1.78. The company’s fifty day simple moving average is $15.84 and its 200 day simple moving average is $11.39. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the company earned $0.04 EPS. As a group, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.28 earnings per share for the current fiscal year.

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.