Avantax Advisory Services Inc. Has $1.15 Million Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Avantax Advisory Services Inc. cut its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 20.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,756 shares of the company’s stock after selling 18,943 shares during the period. Avantax Advisory Services Inc.’s holdings in SoFi Technologies were worth $1,151,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in SoFi Technologies during the fourth quarter worth approximately $31,000. FNY Investment Advisers LLC lifted its stake in shares of SoFi Technologies by 727.1% in the fourth quarter. FNY Investment Advisers LLC now owns 2,167 shares of the company’s stock worth $33,000 after buying an additional 1,905 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of SoFi Technologies during the 3rd quarter worth $28,000. AdvisorNet Financial Inc grew its stake in SoFi Technologies by 63.5% in the 4th quarter. AdvisorNet Financial Inc now owns 5,486 shares of the company’s stock valued at $84,000 after buying an additional 2,130 shares during the last quarter. Finally, SOA Wealth Advisors LLC. raised its holdings in SoFi Technologies by 33.1% in the 4th quarter. SOA Wealth Advisors LLC. now owns 5,634 shares of the company’s stock worth $87,000 after acquiring an additional 1,400 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $12.73 on Thursday. The stock has a market capitalization of $13.96 billion, a P/E ratio of 34.41, a P/E/G ratio of 2.24 and a beta of 1.79. 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, Inc. has a 1-year low of $6.01 and a 1-year high of $18.42. The business has a 50-day moving average price of $14.73 and a two-hundred day moving average price of $12.94.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating 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 earned $0.04 EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Kelli Keough sold 8,914 shares of SoFi Technologies stock in a transaction that occurred 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 owns 178,811 shares of the company’s stock, valued at $3,143,497.38. This trade represents a 4.75 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 27,013 shares of company stock valued at $437,402. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Morgan Stanley raised their price target on SoFi Technologies from $7.50 to $13.00 and gave the company an “underweight” rating in a research report on Thursday, December 19th. Citigroup lifted their price target on SoFi Technologies from $12.50 to $18.00 and gave the stock a “buy” rating in a research report on Tuesday, January 14th. The Goldman Sachs Group increased their price objective on SoFi Technologies from $8.50 to $9.50 and gave the company a “neutral” rating in a research report on Tuesday, January 28th. Needham & Company LLC raised their price objective on shares of SoFi Technologies from $13.00 to $20.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. Finally, Dbs Bank upgraded shares of SoFi Technologies to a “strong-buy” rating in a research note on Friday, February 21st. 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.50.

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.