Pallas Capital Advisors LLC Sells 13,903 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Pallas Capital Advisors LLC trimmed its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 49.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,117 shares of the company’s stock after selling 13,903 shares during the quarter. Pallas Capital Advisors LLC’s holdings in SoFi Technologies were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. Benjamin F. Edwards & Company Inc. boosted its stake in shares of SoFi Technologies by 4,252.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 88,580 shares of the company’s stock worth $585,000 after purchasing an additional 86,545 shares during the period. Mark Asset Management LP grew its stake in shares of SoFi Technologies by 79.9% during the second quarter. Mark Asset Management LP now owns 340,654 shares of the company’s stock valued at $2,252,000 after buying an additional 151,265 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of SoFi Technologies by 64.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 294,711 shares of the company’s stock worth $1,948,000 after buying an additional 115,316 shares during the period. Texas Capital Bank Wealth Management Services Inc lifted its stake in shares of SoFi Technologies by 233.3% during the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 100,000 shares of the company’s stock worth $661,000 after acquiring an additional 70,000 shares during the last quarter. Finally, Axxcess Wealth Management LLC bought a new stake in shares of SoFi Technologies during the 1st quarter worth approximately $185,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Down 1.2 %

Shares of NASDAQ SOFI opened at $11.04 on Friday. The business has a fifty day moving average price of $8.67 and a 200 day moving average price of $7.56. SoFi Technologies, Inc. has a 1-year low of $6.01 and a 1-year high of $11.50. The company has a debt-to-equity ratio of 0.53, a current ratio of 0.88 and a quick ratio of 0.21. The stock has a market capitalization of $11.77 billion, a P/E ratio of 110.41, a price-to-earnings-growth ratio of 1.89 and a beta of 1.70.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. The business had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. SoFi Technologies had a net margin of 8.38% and a return on equity of 3.79%. The company’s revenue was up 29.8% compared to the same quarter last year. During the same period last year, the business earned ($0.03) EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 24,939 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now owns 114,407 shares of the company’s stock, valued at $830,594.82. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other SoFi Technologies news, EVP Kelli Keough sold 24,939 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $7.26, for a total value of $181,057.14. Following the completion of the sale, the executive vice president now directly owns 114,407 shares in the company, valued at approximately $830,594.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 68,081 shares of the business’s stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $8.12, for a total value of $552,817.72. Following the sale, the chief technology officer now owns 521,505 shares in the company, valued at $4,234,620.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 111,636 shares of company stock valued at $904,677. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SOFI. Barclays increased their target price on SoFi Technologies from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Keefe, Bruyette & Woods decreased their price objective on shares of SoFi Technologies from $7.50 to $7.00 and set a “market perform” rating for the company in a report on Tuesday, July 9th. Needham & Company LLC upped their target price on shares of SoFi Technologies from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, The Goldman Sachs Group increased their price objective on SoFi Technologies from $7.50 to $8.50 and gave the stock a “neutral” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $9.32.

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.