Kovack Advisors Inc. Trims Stake in SoFi Technologies, Inc. (NASDAQ:SOFI)

Kovack Advisors Inc. lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 18.5% during the 4th quarter, HoldingsChannel reports. The firm owned 65,637 shares of the company’s stock after selling 14,903 shares during the quarter. Kovack Advisors Inc.’s holdings in SoFi Technologies were worth $1,011,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in SoFi Technologies by 214.9% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,940,340 shares of the company’s stock worth $30,971,000 after buying an additional 2,688,847 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of SoFi Technologies during the 3rd quarter worth about $16,014,000. Zacks Investment Management acquired a new stake in shares of SoFi Technologies during the 3rd quarter valued at about $3,766,000. Point72 DIFC Ltd purchased a new position in shares of SoFi Technologies in the 3rd quarter valued at about $3,219,000. Finally, Rockefeller Capital Management L.P. raised its holdings in SoFi Technologies by 20.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 2,209,266 shares of the company’s stock worth $17,365,000 after purchasing an additional 376,899 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

SOFI stock opened at $14.07 on Friday. SoFi Technologies, Inc. has a 1 year low of $6.01 and a 1 year high of $18.42. The firm has a market capitalization of $15.27 billion, a PE ratio of 38.03, a price-to-earnings-growth ratio of 2.24 and a beta of 1.78. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.49 and a quick ratio of 0.18. The business has a 50 day simple moving average of $15.56 and a 200-day simple moving average of $12.40.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, topping 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 in the prior year, the firm posted $0.04 earnings per share. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. William Blair reissued an “outperform” rating on shares of SoFi Technologies in a report on Friday, January 24th. JPMorgan Chase & Co. boosted their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the stock a “neutral” rating in a report on Monday, December 2nd. Bank of America restated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research report on Monday, December 9th. Morgan Stanley lifted their target price on shares of SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 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 report on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.50.

Insider Buying and Selling

In other news, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction 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 transaction, the director now directly owns 25,937 shares in the company, valued at approximately $415,510.74. This represents a 66.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Iv (Gp) L.L.C. Slta sold 24,105,908 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $16.03, for a total value of $386,417,705.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,008,465 shares of company stock worth $416,952,167. Insiders own 2.60% of the company’s stock.

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.