Carnegie Lake Advisors LLC Decreases Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Carnegie Lake Advisors LLC reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 17.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 21,100 shares of the company’s stock after selling 4,450 shares during the quarter. Carnegie Lake Advisors LLC’s holdings in SoFi Technologies were worth $325,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. AQR Capital Management LLC increased its position in SoFi Technologies by 58.8% in the second quarter. AQR Capital Management LLC now owns 115,186 shares of the company’s stock worth $756,000 after buying an additional 42,660 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of SoFi Technologies during the 2nd quarter worth $731,000. Park Avenue Securities LLC increased its holdings in SoFi Technologies by 45.1% in the 3rd quarter. Park Avenue Securities LLC now owns 14,782 shares of the company’s stock worth $116,000 after acquiring an additional 4,592 shares during the last quarter. CWM LLC raised its stake in SoFi Technologies by 93.0% in the 3rd quarter. CWM LLC now owns 98,956 shares of the company’s stock valued at $778,000 after acquiring an additional 47,672 shares during the period. Finally, Wedmont Private Capital purchased a new stake in SoFi Technologies during the third quarter valued at about $123,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Up 1.5 %

Shares of NASDAQ SOFI opened at $15.13 on Tuesday. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52. The business has a 50-day moving average of $15.75 and a 200-day moving average of $11.72. The firm has a market capitalization of $16.42 billion, a price-to-earnings ratio of 40.89, a PEG ratio of 2.04 and a beta of 1.77. SoFi Technologies, Inc. has a 12 month low of $6.01 and a 12 month high of $18.42.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Monday, January 27th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates 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 period in the previous year, the firm posted $0.04 earnings per share. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Eric Schuppenhauer acquired 30,600 shares of the stock in a transaction dated Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, for a total transaction of $500,004.00. Following the acquisition, the executive vice president now owns 46,105 shares in the company, valued at $753,355.70. The trade was a 197.36 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Kelli Keough sold 8,914 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $17.58, for a total transaction of $156,708.12. Following the transaction, the executive vice president now directly owns 178,811 shares in the company, valued at approximately $3,143,497.38. This represents a 4.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,008,870 shares of company stock valued at $416,950,073 over the last 90 days. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SOFI has been the subject of several recent research reports. Jefferies Financial Group lifted their target price on shares of SoFi Technologies from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. Citigroup lifted their price objective on shares of SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley increased their target price on SoFi Technologies from $7.50 to $13.00 and gave the stock an “underweight” rating in a research report on Thursday, December 19th. Keefe, Bruyette & Woods reiterated an “underperform” rating and issued a $8.00 price target (up from $7.00) on shares of SoFi Technologies in a research report on Thursday, January 2nd. Finally, Bank of America reiterated an “underperform” rating and set a $12.00 price objective on shares of SoFi Technologies in a research note on Monday, December 9th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $12.50.

About SoFi Technologies

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.