SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,095 shares of the company’s stock after selling 8,634 shares during the period. Principal Financial Group Inc.’s holdings in SoFi Technologies were worth $551,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SOFI. 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. Waldron Private Wealth LLC acquired a new position in SoFi Technologies during the 3rd quarter valued at about $39,000. GAMMA Investing LLC boosted its position in shares of 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 purchasing an additional 1,981 shares in the last quarter. Gilliland Jeter Wealth Management LLC bought a new position in shares of SoFi Technologies during the 3rd quarter valued at about $47,000. Finally, Blue Trust Inc. boosted its holdings in shares of SoFi Technologies by 783.5% in the second 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 period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $15.60 on Monday. The stock has a market capitalization of $16.93 billion, a P/E ratio of 156.00, a P/E/G ratio of 2.50 and a beta of 1.60. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $15.75. 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 business has a 50-day moving average price of $10.44 and a two-hundred day moving average price of $8.22.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $697.10 million during the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s quarterly revenue was up 29.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.03) EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.12 earnings per share for the current year.

Insider Activity

In other news, 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 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 $4,234,620.60. This represents a 11.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were 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. Insiders sold a total of 96,287 shares of company stock valued at $863,250 in the last ninety days. 2.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research reports. Needham & Company LLC raised their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays lifted their price target on shares of SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 30th. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Finally, Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $9.80.

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.