US Bancorp DE Has $247,000 Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

US Bancorp DE reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 3.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,375 shares of the company’s stock after selling 1,194 shares during the quarter. US Bancorp DE’s holdings in SoFi Technologies were worth $247,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its holdings in shares of SoFi Technologies by 4,252.8% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after buying an additional 86,545 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in SoFi Technologies by 64.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after acquiring an additional 115,316 shares during the last quarter. Mark Asset Management LP raised its stake in shares of SoFi Technologies by 79.9% in the second quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock worth $2,252,000 after acquiring an additional 151,265 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its position in shares of SoFi Technologies by 233.3% during the second quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $661,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Diversify Advisory Services LLC increased its holdings in shares of SoFi Technologies by 7.4% in the third quarter. Diversify Advisory Services LLC now owns 813,589 shares of the company’s stock valued at $6,395,000 after purchasing an additional 56,245 shares in the last quarter. 38.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SOFI shares. Barclays upped their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC increased their price objective on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Jefferies Financial Group increased their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Citigroup cut SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $9.32.

SoFi Technologies Stock Performance

Shares of SOFI opened at $13.50 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.21 and a debt-to-equity ratio of 0.52. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $14.44. The firm has a fifty day simple moving average of $9.44 and a 200 day simple moving average of $7.85. The stock has a market capitalization of $14.39 billion, a price-to-earnings ratio of 135.01, a PEG ratio of 2.30 and a beta of 1.60.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (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 the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. SoFi Technologies’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.03) earnings per share. Research analysts forecast that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Kelli Keough sold 9,308 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $10.36, for a total value of $96,430.88. Following the completion of the sale, the executive vice president now directly owns 152,203 shares of the company’s stock, valued at $1,576,823.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the transaction, the chief technology officer now directly owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 111,636 shares of company stock valued at $904,677. 2.60% of the stock is owned by corporate 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.