Pathway Financial Advisers LLC Trims Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Pathway Financial Advisers LLC lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 3.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,782 shares of the company’s stock after selling 1,715 shares during the quarter. Pathway Financial Advisers LLC’s holdings in SoFi Technologies were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Hazlett Burt & Watson Inc. raised its holdings in shares of SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after purchasing an additional 2,200 shares during the last quarter. Garde Capital Inc. acquired a new stake in SoFi Technologies during the 1st quarter worth about $31,000. Mpwm Advisory Solutions LLC acquired a new stake in SoFi Technologies during the 4th quarter worth about $32,000. Larson Financial Group LLC raised its stake in shares of SoFi Technologies by 127.1% during the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock valued at $32,000 after buying an additional 1,519 shares during the last quarter. Finally, MCF Advisors LLC lifted its holdings in shares of SoFi Technologies by 119.3% in the 1st quarter. MCF Advisors LLC now owns 3,072 shares of the company’s stock valued at $36,000 after buying an additional 1,671 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on SOFI shares. TD Cowen began coverage on SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating and a $21.00 price target for the company. Needham & Company LLC lifted their target price on shares of SoFi Technologies from $20.00 to $25.00 and gave the company a “buy” rating in a report on Wednesday. Barclays boosted their target price on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an “equal weight” rating in a research note on Wednesday. JMP Securities restated a “market perform” rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $13.00 price objective (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday. Three analysts have rated the stock with a sell rating, ten have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $18.06.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 66,847 shares of the business’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 11,520 shares of the company’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $13.38, for a total transaction of $154,137.60. Following the sale, the executive vice president directly owned 203,509 shares of the company’s stock, valued at approximately $2,722,950.42. This represents a 5.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 273,181 shares of company stock worth $4,043,240. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Down 6.0%

Shares of SoFi Technologies stock opened at $21.23 on Friday. The firm has a market capitalization of $23.47 billion, a PE ratio of 44.23, a P/E/G ratio of 2.68 and a beta of 1.92. SoFi Technologies, Inc. has a twelve month low of $6.01 and a twelve month high of $25.11. The firm’s 50-day moving average price is $17.59 and its 200 day moving average price is $14.87. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.46.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to analysts’ expectations of $801.94 million. SoFi Technologies had a return on equity of 4.51% and a net margin of 18.38%. The business’s revenue was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.01 earnings per share. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.