B. Riley Wealth Advisors Inc. Trims Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

B. Riley Wealth Advisors Inc. reduced its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 14.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 108,943 shares of the company’s stock after selling 18,193 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in SoFi Technologies were worth $720,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its holdings in shares of SoFi Technologies by 263.3% during the second quarter. Dimensional Fund Advisors LP now owns 13,083,606 shares of the company’s stock worth $86,478,000 after purchasing an additional 9,482,683 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in SoFi Technologies by 176.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 10,767,302 shares of the company’s stock worth $78,601,000 after buying an additional 6,870,610 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of SoFi Technologies by 176.3% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 10,767,302 shares of the company’s stock worth $78,494,000 after buying an additional 6,870,610 shares during the last quarter. Vanguard Group Inc. raised its position in shares of SoFi Technologies by 6.6% during the 4th quarter. Vanguard Group Inc. now owns 81,459,986 shares of the company’s stock valued at $810,527,000 after buying an additional 5,057,233 shares in the last quarter. Finally, Marshall Wace LLP lifted its holdings in shares of SoFi Technologies by 130.0% during the 2nd quarter. Marshall Wace LLP now owns 6,357,887 shares of the company’s stock worth $42,026,000 after acquiring an additional 3,593,464 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

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

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $8.39 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.21 and a debt-to-equity ratio of 0.53. The company has a market cap of $8.87 billion, a price-to-earnings ratio of -27.06, a price-to-earnings-growth ratio of 1.60 and a beta of 1.70. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $10.49. The company has a 50-day moving average price of $7.41 and a 200-day moving average price of $7.18.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $565.19 million. During the same quarter last year, the business posted ($0.06) EPS. The business’s revenue was up 20.2% on a year-over-year basis. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $8.12, for a total value 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 approximately $4,234,620.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,290,472.89. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction dated Friday, September 20th. The stock was 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 in the company, valued at $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,328 shares of company stock valued at $808,246. 2.60% of the stock is currently owned by company insiders.

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.