Van ECK Associates Corp Has $2.29 Million Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Van ECK Associates Corp cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 22.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 148,710 shares of the company’s stock after selling 43,906 shares during the period. Van ECK Associates Corp’s holdings in SoFi Technologies were worth $2,290,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $27,000. Brooklyn Investment Group acquired a new position in shares of SoFi Technologies in the 3rd quarter worth approximately $28,000. FNY Investment Advisers LLC increased its holdings in SoFi Technologies by 727.1% during the 4th quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock valued at $33,000 after purchasing an additional 1,905 shares in the last quarter. Waldron Private Wealth LLC acquired a new stake in SoFi Technologies during the 3rd quarter valued at $39,000. Finally, SouthState Corp acquired a new stake in SoFi Technologies during the 3rd quarter valued at $67,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Down 3.8 %

NASDAQ:SOFI opened at $15.56 on Friday. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $16.88 billion, a P/E ratio of 42.05, a P/E/G ratio of 2.43 and a beta of 1.77. The stock’s fifty day simple moving average is $15.73 and its 200-day simple moving average is $12.13.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same period last year, the company posted $0.04 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

SOFI has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday, December 19th. Keefe, Bruyette & Woods reaffirmed an “underperform” rating and set a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a report on Thursday, January 2nd. Needham & Company LLC raised their price target on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Citigroup raised their price target on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a report on Tuesday, January 14th. Finally, The Goldman Sachs Group raised their price target on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, SoFi Technologies has an average rating of “Hold” and an average target price of $12.50.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $17.58, for a total transaction of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. The trade was a 4.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $16.02, for a total value of $833,040.00. Following the transaction, the director now owns 25,937 shares in the company, valued at approximately $415,510.74. This represents a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,999,280 shares of company stock worth $416,810,442 in the last three months. 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.