Modus Advisors LLC Sells 4,706 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Modus Advisors LLC lowered its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 43.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,039 shares of the company’s stock after selling 4,706 shares during the quarter. Modus Advisors LLC’s holdings in SoFi Technologies were worth $93,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in SoFi Technologies by 16.6% during the second quarter. Bank of New York Mellon Corp now owns 3,117,081 shares of the company’s stock valued at $20,604,000 after purchasing an additional 443,198 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of SoFi Technologies by 55.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 4,333 shares of the company’s stock valued at $29,000 after buying an additional 1,543 shares during the period. Commonwealth Equity Services LLC increased its position in shares of SoFi Technologies by 1.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 618,955 shares of the company’s stock valued at $4,091,000 after buying an additional 10,379 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in 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 acquiring an additional 6,269 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in 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 acquiring an additional 53,124 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Transactions at SoFi Technologies

In related news, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $16.03, for a total value of $386,417,705.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction that occurred on Monday, December 23rd. The shares were 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,009,264 shares of company stock valued at $416,889,795. 2.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SOFI has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reiterated an “underperform” rating and set a $8.00 price objective (up previously from $7.00) on shares of SoFi Technologies in a report on Thursday. Jefferies Financial Group upped 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. Citigroup lowered shares of SoFi Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, October 18th. Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America reissued an “underperform” rating and issued a $12.00 price target on shares of SoFi Technologies in a research note on Monday, December 9th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $11.13.

SoFi Technologies Stock Performance

Shares of SoFi Technologies stock traded up $0.32 during trading on Friday, hitting $14.45. 10,755,206 shares of the stock were exchanged, compared to its average volume of 42,581,891. 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 company has a fifty day moving average price of $14.52 and a 200-day moving average price of $9.98. The stock has a market capitalization of $15.68 billion, a price-to-earnings ratio of 144.51, a price-to-earnings-growth ratio of 2.70 and a beta of 1.77. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $17.19.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (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 the consensus estimate of $631.59 million. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same quarter last year, the firm posted ($0.03) EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

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.