Valeo Financial Advisors LLC Sells 10,000 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Valeo Financial Advisors LLC decreased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 25.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,716 shares of the company’s stock after selling 10,000 shares during the period. Valeo Financial Advisors LLC’s holdings in SoFi Technologies were worth $196,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in SoFi Technologies by 1.7% in the first quarter. Vanguard Group Inc. now owns 82,826,257 shares of the company’s stock valued at $604,632,000 after acquiring an additional 1,366,271 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of 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. lifted its position in shares of SoFi Technologies by 176.3% during 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 period. Norges Bank acquired a new stake in SoFi Technologies in the 4th quarter valued at $71,349,000. Finally, Charles Schwab Investment Management Inc. grew its position in SoFi Technologies by 3.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,493,410 shares of the company’s stock valued at $54,659,000 after acquiring an additional 199,949 shares during the period. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Up 0.9 %

Shares of SOFI traded up $0.06 during trading hours on Friday, hitting $6.70. 6,434,399 shares of the stock traded hands, compared to its average volume of 46,861,566. The business has a fifty day moving average of $6.85 and a 200-day moving average of $7.32. The company has a current ratio of 0.93, a quick ratio of 0.24 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $7.08 billion, a PE ratio of -21.26, a price-to-earnings-growth ratio of 1.45 and a beta of 1.70. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $10.49.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, July 30th. The company reported $0.01 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.01. SoFi Technologies had a negative net margin of 5.15% and a positive return on equity of 2.30%. The company had revenue of $598.60 million for the quarter, compared to the consensus estimate of $565.19 million. During the same period in the prior year, the company posted ($0.06) EPS. The company’s revenue was up 20.2% compared to the same quarter last year. Analysts expect that SoFi Technologies, Inc. will post 0.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on SOFI. Wedbush reissued an “underperform” rating and set a $3.00 price objective on shares of SoFi Technologies in a report on Tuesday, April 30th. Keefe, Bruyette & Woods cut their price target on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Barclays decreased their price objective on shares of SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, July 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating for the company in a research note on Tuesday, April 30th. Finally, Needham & Company LLC restated 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, eight have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $9.20.

Insider Buying and Selling

In related news, CEO Anthony Noto bought 28,900 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were purchased at an average price of $6.92 per share, with a total value of $199,988.00. Following the completion of the purchase, the chief executive officer now owns 8,062,269 shares of the company’s stock, valued at approximately $55,790,901.48. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CTO Jeremy Rishel sold 56,273 shares of the business’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $6.41, for a total value of $360,709.93. Following the completion of the transaction, the chief technology officer now owns 453,464 shares of the company’s stock, valued at approximately $2,906,704.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony Noto acquired 28,900 shares of the company’s stock in a transaction that occurred on Thursday, May 23rd. The shares were acquired at an average cost of $6.92 per share, for a total transaction of $199,988.00. Following the purchase, the chief executive officer now directly owns 8,062,269 shares in the company, valued at approximately $55,790,901.48. The disclosure for this purchase can be found here. 2.60% of the stock is owned by insiders.

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.