Axxcess Wealth Management LLC Lowers Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Axxcess Wealth Management LLC trimmed its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 31.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,254 shares of the company’s stock after selling 5,225 shares during the quarter. Axxcess Wealth Management LLC’s holdings in SoFi Technologies were worth $173,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Harbour Investments Inc. raised its position in SoFi Technologies by 9.7% in the 4th quarter. Harbour Investments Inc. now owns 68,117 shares of the company’s stock valued at $1,049,000 after purchasing an additional 6,018 shares in the last quarter. one8zero8 LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at about $340,000. Catalyst Funds Management Pty Ltd acquired a new stake in SoFi Technologies in the 4th quarter valued at about $282,000. Midwest Professional Planners LTD. acquired a new stake in SoFi Technologies in the 4th quarter valued at about $836,000. Finally, IAG Wealth Partners LLC acquired a new stake in SoFi Technologies in the 4th quarter valued at about $38,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $15.59, for a total transaction of $138,969.26. Following the completion of the transaction, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. The trade was a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 68,625 shares of SoFi Technologies stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $12.64, for a total value of $867,420.00. Following the transaction, the chief technology officer now directly owns 655,118 shares of the company’s stock, valued at approximately $8,280,691.52. This represents a 9.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,819 shares of company stock valued at $1,447,044. 2.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SOFI. Needham & Company LLC raised their target price on SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a research report on Friday, January 24th. Keefe, Bruyette & Woods reissued an “underperform” rating and set a $8.00 target price (up previously from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research report on Friday, February 21st. Finally, UBS Group lifted their price target on SoFi Technologies from $10.50 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 28th. Four analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $12.50.

SoFi Technologies Stock Up 1.8 %

SoFi Technologies stock opened at $12.87 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The company has a market cap of $14.11 billion, a PE ratio of 34.78, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The stock’s 50 day moving average price is $14.67 and its 200 day moving average price is $13.01.

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, beating analysts’ consensus estimates 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 firm earned $0.04 EPS. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

About SoFi Technologies

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.