B. Riley Wealth Advisors Inc. Sells 92,926 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

B. Riley Wealth Advisors Inc. lessened its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 85.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 16,017 shares of the company’s stock after selling 92,926 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in SoFi Technologies were worth $126,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Captrust Financial Advisors increased its holdings in shares of SoFi Technologies by 2.8% in the 3rd quarter. Captrust Financial Advisors now owns 29,639 shares of the company’s stock worth $233,000 after buying an additional 809 shares during the last quarter. Summit Trail Advisors LLC grew its position in SoFi Technologies by 0.3% in the third quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after acquiring an additional 855 shares in the last quarter. CIBC Asset Management Inc increased its stake in SoFi Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after acquiring an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its position in SoFi Technologies by 10.0% during the third quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock valued at $86,000 after purchasing an additional 1,000 shares during the period. Finally, Stratos Wealth Advisors LLC lifted its stake in shares of SoFi Technologies by 3.3% in the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 9,308 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $10.36, for a total transaction of $96,430.88. Following the sale, the executive vice president now owns 152,203 shares of the company’s stock, valued at approximately $1,576,823.08. This trade represents a 5.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 1,758,553 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $16.06, for a total value of $28,242,361.18. Following the completion of the transaction, the director now directly owns 482,083 shares of the company’s stock, valued at approximately $7,742,252.98. The trade was a 78.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,000,350 shares of company stock worth $416,750,826 in the last three months. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 2.1 %

Shares of NASDAQ:SOFI opened at $15.35 on Monday. The business’s 50 day moving average is $13.55 and its 200 day moving average is $9.45. The stock has a market cap of $16.66 billion, a P/E ratio of 153.52, a price-to-earnings-growth ratio of 2.65 and a beta of 1.77. SoFi Technologies, Inc. has a 52-week low of $6.01 and a 52-week high of $17.19. The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for 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 business’s revenue was up 29.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.03) EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SOFI. The Goldman Sachs Group increased their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price target on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a report on Thursday. Barclays increased their price objective on shares of SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 30th. Finally, Citigroup lowered SoFi Technologies from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 18th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $11.04.

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.