Caprock Group LLC Trims Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Caprock Group LLC trimmed its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 54.5% in the fourth quarter, Holdings Channel reports. The fund owned 330,674 shares of the company’s stock after selling 396,439 shares during the period. Caprock Group LLC’s holdings in SoFi Technologies were worth $5,092,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. FNY Investment Advisers LLC lifted its holdings in shares of SoFi Technologies by 727.1% during 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 period. Capital Performance Advisors LLP purchased a new position in SoFi Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group acquired a new stake in shares of SoFi Technologies in the 3rd quarter worth $28,000. Waldron Private Wealth LLC purchased a new stake in shares of SoFi Technologies in the third quarter valued at about $39,000. Finally, AdvisorNet Financial Inc increased its stake in shares of SoFi Technologies by 63.5% during the fourth quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock worth $84,000 after acquiring an additional 2,130 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 4.0 %

Shares of NASDAQ SOFI opened at $15.78 on Friday. The firm’s 50-day moving average is $15.84 and its two-hundred day moving average is $11.34. The company has a market capitalization of $17.12 billion, a PE ratio of 42.65, a price-to-earnings-growth ratio of 2.15 and a beta of 1.78. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. 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 (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) 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 last year, the company posted $0.04 EPS. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.28 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 8,914 shares of the company’s 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 transaction, the executive vice president now owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. This represents a 4.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of SoFi Technologies stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $16.02, for a total transaction of $833,040.00. Following the completion of the sale, the director now directly owns 25,937 shares of the company’s stock, valued at $415,510.74. The trade was a 66.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SOFI. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Jefferies Financial Group increased their price objective on SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Mizuho boosted their target price on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average price target of $12.50.

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.