Hourglass Capital LLC Has $616,000 Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Hourglass Capital LLC reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 38.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 40,000 shares of the company’s stock after selling 25,000 shares during the quarter. Hourglass Capital LLC’s holdings in SoFi Technologies were worth $616,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $27,000. Brooklyn Investment Group purchased a new position in shares of SoFi Technologies in the third quarter valued at $28,000. FNY Investment Advisers LLC increased its position 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 valued at $33,000 after buying an additional 1,905 shares during the period. Waldron Private Wealth LLC bought a new stake in SoFi Technologies during the 3rd quarter worth approximately $39,000. Finally, Gilliland Jeter Wealth Management LLC purchased a new stake in shares of SoFi Technologies in the third quarter worth $47,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. UBS Group lifted their target price on shares of SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Barclays lifted their price target on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 30th. Bank of America reiterated an “underperform” rating and set a $12.00 target price on shares of SoFi Technologies in a report on Monday, December 9th. JPMorgan Chase & Co. lifted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a report on Monday, December 2nd. Finally, Mizuho increased their target price on SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Four analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. According to MarketBeat.com, SoFi Technologies has an average rating of “Hold” and a consensus target price of $12.50.

SoFi Technologies Trading Up 6.7 %

SoFi Technologies stock opened at $16.21 on Friday. The business’s fifty day moving average is $15.69 and its 200 day moving average is $11.91. SoFi Technologies, Inc. has a one year low of $6.01 and a one year high of $18.42. The stock has a market capitalization of $17.59 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.04 and a beta of 1.77. 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 quarterly earnings data on Monday, January 27th. The company reported $0.05 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 quarter in the previous year, the firm earned $0.04 earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.27 EPS for the current year.

Insider Activity

In other news, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the transaction, the chief technology officer now owns 586,494 shares of the company’s stock, valued at approximately $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 8,914 shares of the business’s 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 sale, the executive vice president now owns 187,725 shares in the company, 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. Insiders sold a total of 26,008,870 shares of company stock valued at $416,950,073 in the last 90 days. Company insiders own 2.60% of the company’s stock.

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.