EverSource Wealth Advisors LLC Reduces Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

EverSource Wealth Advisors LLC lessened its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,991 shares of the company’s stock after selling 1,193 shares during the period. EverSource Wealth Advisors LLC’s holdings in SoFi Technologies were worth $138,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in SoFi Technologies in the 4th quarter valued at approximately $3,703,000. Hanseatic Management Services Inc. purchased a new stake in shares of SoFi Technologies in the fourth quarter valued at $1,116,000. Kercheville Advisors LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at $1,594,000. Charles Schwab Investment Management Inc. increased its position in SoFi Technologies by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,145,837 shares of the company’s stock worth $48,306,000 after purchasing an additional 87,097 shares in the last quarter. Finally, Zacks Investment Management acquired a new position in SoFi Technologies in the 3rd quarter valued at about $3,766,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Trading Up 1.9 %

Shares of SOFI stock opened at $12.32 on Tuesday. 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, Inc. has a fifty-two week low of $6.01 and a fifty-two week high of $18.42. The firm’s 50 day moving average price is $14.83 and its two-hundred day moving average price is $12.92. The stock has a market cap of $13.51 billion, a price-to-earnings ratio of 33.30, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Monday, January 27th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.01. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. During the same quarter last year, the business posted $0.04 EPS. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 187,725 shares of the company’s stock, valued at approximately $2,926,632.75. This trade represents a 4.53 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 64,991 shares of the business’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $15.72, for a total transaction of $1,021,658.52. Following the completion of the transaction, the chief technology officer now owns 586,494 shares in the company, valued at $9,219,685.68. This represents a 9.98 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 92,004 shares of company stock worth $1,459,060. 2.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SOFI has been the topic of several analyst reports. Mizuho raised their price target on shares of SoFi Technologies from $14.00 to $16.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Bank of America reaffirmed an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Dbs Bank raised SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. Needham & Company LLC lifted their price objective on SoFi Technologies from $13.00 to $20.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, William Blair reiterated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Four investment analysts have rated the stock with a sell rating, six have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and an average target price 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.