Townsquare Capital LLC Decreases Stock Holdings in SoFi Technologies, Inc. (NASDAQ:SOFI)

Townsquare Capital LLC decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 14.5% in the third quarter, Holdings Channel.com reports. The institutional investor owned 928,446 shares of the company’s stock after selling 157,727 shares during the period. Townsquare Capital LLC’s holdings in SoFi Technologies were worth $7,298,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Summit Trail Advisors LLC raised its position in SoFi Technologies by 0.3% in the 3rd quarter. Summit Trail Advisors LLC now owns 280,464 shares of the company’s stock worth $2,204,000 after buying an additional 855 shares during the last quarter. CIBC Asset Management Inc raised its position in SoFi Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 28,409 shares of the company’s stock worth $223,000 after buying an additional 962 shares during the last quarter. Oak Harbor Wealth Partners LLC raised its position in SoFi Technologies by 10.0% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 11,000 shares of the company’s stock worth $86,000 after buying an additional 1,000 shares during the last quarter. Stratos Wealth Advisors LLC grew its stake in shares of SoFi Technologies by 3.3% during the 3rd quarter. Stratos Wealth Advisors LLC now owns 32,610 shares of the company’s stock valued at $256,000 after purchasing an additional 1,054 shares during the period. Finally, NBC Securities Inc. grew its stake in shares of SoFi Technologies by 12.7% during the 3rd quarter. NBC Securities Inc. now owns 9,581 shares of the company’s stock valued at $75,000 after purchasing an additional 1,081 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on SoFi Technologies from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. Barclays boosted their price target on SoFi Technologies from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 30th. Needham & Company LLC boosted their price target on SoFi Technologies from $10.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Mizuho boosted 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, The Goldman Sachs Group boosted their price target on SoFi Technologies from $7.50 to $8.50 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $9.80.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 68,081 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $8.12, for a total transaction of $552,817.72. Following the sale, the chief technology officer now directly owns 521,505 shares of the company’s stock, valued at $4,234,620.60. This represents a 11.55 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kelli Keough sold 9,590 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $14.56, for a total value of $139,630.40. Following the sale, the executive vice president now directly owns 142,613 shares in the company, valued at $2,076,445.28. This trade represents a 6.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 96,287 shares of company stock valued at $863,250. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Trading Up 4.1 %

Shares of NASDAQ:SOFI opened at $16.12 on Thursday. The stock has a 50 day moving average of $10.74 and a 200 day moving average of $8.34. The company has a market cap of $17.49 billion, a PE ratio of 161.22, a price-to-earnings-growth ratio of 2.61 and a beta of 1.60. 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 12-month low of $6.01 and a 12-month high of $16.16.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.71% and a net margin of 8.38%. The company had revenue of $697.10 million for the quarter, compared to analysts’ expectations of $631.59 million. During the same period in the previous year, the firm earned ($0.03) EPS. The firm’s revenue was up 29.8% compared to the same quarter last year. As a group, equities research analysts expect that SoFi Technologies, Inc. will post 0.12 EPS for the current 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.