Carnegie Lake Advisors LLC Sells 4,450 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Carnegie Lake Advisors LLC decreased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 17.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,100 shares of the company’s stock after selling 4,450 shares during the period. Carnegie Lake Advisors LLC’s holdings in SoFi Technologies were worth $325,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in SoFi Technologies in the 3rd quarter worth $27,000. Brooklyn Investment Group purchased a new stake in shares of SoFi Technologies during the third quarter worth about $28,000. FNY Investment Advisers LLC grew its stake in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after purchasing an additional 1,905 shares during the last quarter. Waldron Private Wealth LLC purchased a new position in SoFi Technologies during the 3rd quarter valued at about $39,000. Finally, Gilliland Jeter Wealth Management LLC bought a new position in SoFi Technologies during the 3rd quarter valued at approximately $47,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SOFI shares. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price objective (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a report on Tuesday, January 28th. UBS Group upped their price objective on shares of SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Mizuho lifted 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. Finally, Morgan Stanley boosted their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average price target of $12.50.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $15.13 on Tuesday. The company has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $11.72. SoFi Technologies, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The company has a market capitalization of $16.42 billion, a price-to-earnings ratio of 40.89, a P/E/G ratio of 2.04 and a beta of 1.77. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share 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 in the prior year, the company posted $0.04 EPS. Analysts expect that SoFi Technologies, Inc. will post 0.27 EPS for the current fiscal year.

Insider Activity

In other SoFi Technologies news, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were acquired at an average cost of $16.34 per share, with a total value of $500,004.00. Following the transaction, the executive vice president now owns 46,105 shares of the company’s stock, valued at $753,355.70. The trade was a 197.36 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 9,590 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now owns 142,613 shares in the company, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,008,870 shares of company stock worth $416,950,073 over the last three months. 2.60% of the stock is currently owned by corporate 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.