Principal Financial Group Inc. Sells 9,314 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Principal Financial Group Inc. decreased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 13.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 60,781 shares of the company’s stock after selling 9,314 shares during the quarter. Principal Financial Group Inc.’s holdings in SoFi Technologies were worth $936,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SOFI. Connor Clark & Lunn Investment Management Ltd. lifted its position in SoFi Technologies by 214.9% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after purchasing an additional 2,688,847 shares during the period. Quadrature Capital Ltd acquired a new position in shares of SoFi Technologies in the 3rd quarter valued at $16,014,000. Zacks Investment Management bought a new position in shares of SoFi Technologies during the 3rd quarter worth about $3,766,000. Point72 DIFC Ltd acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $3,219,000. Finally, Rockefeller Capital Management L.P. increased its stake in SoFi Technologies by 20.6% in the third quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock valued at $17,365,000 after acquiring an additional 376,899 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $12.45 on Friday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. 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 firm’s 50 day moving average is $15.31 and its 200-day moving average is $12.63. The firm has a market capitalization of $13.65 billion, a price-to-earnings ratio of 33.65, a PEG ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, topping 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 period in the previous year, the firm posted $0.04 earnings per share. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SOFI shares. UBS Group raised their price target on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. The Goldman Sachs Group upped their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Mizuho lifted their price objective on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, JPMorgan Chase & Co. increased their target price on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $12.50.

Insider Activity at SoFi Technologies

In related news, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 9,185 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $15.43, for a total value of $141,724.55. Following the completion of the transaction, the executive vice president now directly owns 169,626 shares in the company, valued at $2,617,329.18. The trade was a 5.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,004 shares of company stock worth $2,292,100 over the last 90 days. Insiders own 2.60% of the company’s stock.

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.