SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Sold by Pursue Wealth Partners LLC

Pursue Wealth Partners LLC reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 50.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 64,358 shares of the company’s stock after selling 64,357 shares during the quarter. Pursue Wealth Partners LLC’s holdings in SoFi Technologies were worth $425,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Founders Financial Securities LLC boosted its stake in SoFi Technologies by 8.0% during the 2nd quarter. Founders Financial Securities LLC now owns 27,060 shares of the company’s stock worth $179,000 after purchasing an additional 2,000 shares during the period. Rhumbline Advisers raised its holdings in shares of SoFi Technologies by 5.7% in the second quarter. Rhumbline Advisers now owns 979,183 shares of the company’s stock valued at $6,472,000 after buying an additional 53,124 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of SoFi Technologies by 29.6% during the second quarter. CIBC Asset Management Inc now owns 27,447 shares of the company’s stock worth $181,000 after buying an additional 6,269 shares during the period. Aptus Capital Advisors LLC grew its holdings in shares of SoFi Technologies by 3.1% during the second quarter. Aptus Capital Advisors LLC now owns 258,565 shares of the company’s stock worth $1,709,000 after buying an additional 7,740 shares during the last quarter. Finally, Mizuho Markets Americas LLC increased its position in SoFi Technologies by 403.4% in the 2nd quarter. Mizuho Markets Americas LLC now owns 3,045,737 shares of the company’s stock valued at $20,132,000 after acquiring an additional 2,440,745 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Trading Down 0.7 %

Shares of SOFI opened at $7.48 on Thursday. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.53, a quick ratio of 0.21 and a current ratio of 0.88. The company has a market capitalization of $7.91 billion, a P/E ratio of -24.13, a P/E/G ratio of 1.62 and a beta of 1.70. The stock has a 50-day moving average price of $7.09 and a 200 day moving average price of $7.22.

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

Analysts Set New Price Targets

Several research analysts have weighed in on SOFI shares. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research note on Wednesday, July 31st. Keefe, Bruyette & Woods cut their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a research report on Tuesday, July 9th. BTIG Research started coverage on shares of SoFi Technologies in a report on Friday, June 7th. They issued a “neutral” rating on the stock. Finally, Barclays lowered their price objective on SoFi Technologies from $10.00 to $8.00 and set an “equal weight” rating on the stock in a report on Tuesday, July 9th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $9.14.

Insider Activity

In related news, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total value of $134,515,694.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Anthony Noto acquired 30,715 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $6.48 per share, for a total transaction of $199,033.20. Following the completion of the purchase, the chief executive officer now directly owns 8,121,844 shares in the company, valued at $52,629,549.12. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Qatar Investment Authority sold 19,840,073 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $6.78, for a total transaction of $134,515,694.94. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,921,285 shares of company stock valued at $135,057,462. 2.60% of the stock is currently owned by company 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.