Good Life Advisors LLC Trims Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Good Life Advisors LLC lowered its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 7.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,791 shares of the company’s stock after selling 2,192 shares during the period. Good Life Advisors LLC’s holdings in SoFi Technologies were worth $211,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SOFI. ORG Partners LLC purchased a new position in shares of SoFi Technologies in the first quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its stake in SoFi Technologies by 55.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after acquiring an additional 1,543 shares during the last quarter. GAMMA Investing LLC boosted its stake in SoFi Technologies by 65.3% during the 2nd quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock valued at $33,000 after acquiring an additional 1,981 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth about $37,000. Finally, Blue Trust Inc. lifted its position in shares of SoFi Technologies by 783.5% in the 2nd quarter. Blue Trust Inc. now owns 8,102 shares of the company’s stock worth $59,000 after buying an additional 7,185 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI opened at $10.18 on Monday. The stock’s 50-day simple moving average is $7.92 and its 200 day simple moving average is $7.32. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $10.49. The stock has a market capitalization of $10.76 billion, a price-to-earnings ratio of -32.84, a price-to-earnings-growth ratio of 1.72 and a beta of 1.70. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $598.60 million for the quarter, compared to analyst estimates of $565.19 million. SoFi Technologies had a positive return on equity of 2.25% and a negative net margin of 5.15%. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned ($0.06) EPS. Research analysts forecast that SoFi Technologies, Inc. will post 0.1 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction on 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 owns 521,505 shares in the company, valued at approximately $4,234,620.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $7.99, for a total value of $74,370.92. Following the completion of the sale, the executive vice president now owns 161,511 shares of the company’s stock, valued at approximately $1,290,472.89. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 102,328 shares of company stock worth $808,246. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on SOFI shares. Keefe, Bruyette & Woods lowered their target price on shares of 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. Needham & Company LLC reissued a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Wednesday, July 31st. Finally, Barclays cut their target price on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, July 9th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $9.25.

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.