Townsquare Capital LLC Sells 157,727 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Townsquare Capital LLC reduced its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 14.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 928,446 shares of the company’s stock after selling 157,727 shares during the period. Townsquare Capital LLC owned about 0.09% of SoFi Technologies worth $7,298,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of SOFI. Capital Performance Advisors LLP bought a new position in shares of SoFi Technologies in the third quarter worth approximately $27,000. Brooklyn Investment Group bought a new position in shares of SoFi Technologies in the third quarter worth approximately $28,000. Allspring Global Investments Holdings LLC grew its holdings in shares of SoFi Technologies by 55.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock worth $29,000 after purchasing an additional 1,543 shares during the last quarter. Waldron Private Wealth LLC bought a new position in shares of SoFi Technologies in the third quarter worth approximately $39,000. Finally, GAMMA Investing LLC grew its holdings in shares of SoFi Technologies by 65.3% in the second quarter. GAMMA Investing LLC now owns 5,017 shares of the company’s stock worth $33,000 after purchasing an additional 1,981 shares during the last quarter. 38.43% of the stock is currently owned by institutional investors.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 68,081 shares of SoFi Technologies stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the completion of the transaction, the chief technology officer now owns 521,505 shares of the company’s stock, valued at $4,234,620.60. The trade was a 11.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 9,590 shares of SoFi Technologies stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the completion of the transaction, the executive vice president now directly owns 142,613 shares of the company’s stock, valued at approximately $2,076,445.28. This represents a 6.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 96,287 shares of company stock valued at $863,250 in the last quarter. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock opened at $16.12 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $17.49 billion, a P/E ratio of 161.22, a P/E/G ratio of 2.61 and a beta of 1.60. The business has a fifty day simple moving average of $10.74 and a two-hundred day simple moving average of $8.34. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $16.16.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.04 by $0.01. The business had revenue of $697.10 million during the quarter, compared to analyst estimates of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) earnings per share. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SOFI. Mizuho raised their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Citigroup cut shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. The Goldman Sachs Group lifted their price target on shares of SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Jefferies Financial Group lifted their price target on shares of SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Needham & Company LLC lifted their price target on shares of SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $9.80.

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.