Moors & Cabot Inc. Sells 181,095 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Moors & Cabot Inc. trimmed its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 21.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 672,595 shares of the company’s stock after selling 181,095 shares during the quarter. Moors & Cabot Inc. owned approximately 0.06% of SoFi Technologies worth $10,358,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SBI Securities Co. Ltd. purchased a new stake in SoFi Technologies during the 4th quarter valued at $3,703,000. Hanseatic Management Services Inc. purchased a new stake in SoFi Technologies during the 4th quarter valued at $1,116,000. Kercheville Advisors LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at $1,594,000. Charles Schwab Investment Management Inc. increased its stake in SoFi Technologies by 1.4% in the third 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 during the period. Finally, Zacks Investment Management purchased a new stake in SoFi Technologies in the third quarter worth $3,766,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $11.26 on Wednesday. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 30.43, a price-to-earnings-growth ratio of 2.24 and a beta of 1.79. The stock has a 50 day simple moving average of $15.07 and a 200-day simple moving average of $12.80. SoFi Technologies, Inc. has a 12-month low of $6.01 and a 12-month high of $18.42. The company has a current ratio of 0.49, a quick ratio of 0.18 and a debt-to-equity ratio of 0.52.

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 quarter in the prior year, the business posted $0.04 earnings per share. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

A number of research firms have weighed in on SOFI. Bank of America reiterated an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. UBS Group raised their price target on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, January 28th. William Blair restated an “outperform” rating on shares of SoFi Technologies in a research note on Friday, January 24th. Mizuho raised their price target on SoFi Technologies from $14.00 to $16.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, JPMorgan Chase & Co. raised their price target on SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research note on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $12.50.

Insider Activity at SoFi Technologies

In other news, EVP Eric Schuppenhauer acquired 30,600 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was purchased at an average cost of $16.34 per share, with a total value of $500,004.00. Following the purchase, the executive vice president now directly owns 46,105 shares of the company’s stock, valued at approximately $753,355.70. This trade represents a 197.36 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 64,991 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $15.72, for a total value of $1,021,658.52. Following the completion of the transaction, the chief technology officer now directly owns 586,494 shares of the company’s stock, valued at $9,219,685.68. The trade was a 9.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 144,004 shares of company stock valued at $2,292,100 in the last ninety days. Corporate insiders own 2.60% of the company’s stock.

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.