Hartline Investment Corp Lowers Stock Position in SoFi Technologies, Inc. (NASDAQ:SOFI)

Hartline Investment Corp cut its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 16.7% in the 4th quarter, Holdings Channel.com reports. The fund owned 721,163 shares of the company’s stock after selling 144,593 shares during the period. SoFi Technologies comprises about 1.2% of Hartline Investment Corp’s holdings, making the stock its 18th largest position. Hartline Investment Corp’s holdings in SoFi Technologies were worth $7,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SOFI. GAMMA Investing LLC bought a new stake in shares of SoFi Technologies during the 4th quarter valued at about $27,000. Westside Investment Management Inc. lifted its position in shares of SoFi Technologies by 93.8% during the 4th quarter. Westside Investment Management Inc. now owns 3,100 shares of the company’s stock valued at $31,000 after buying an additional 1,500 shares in the last quarter. CNB Bank purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $50,000. Fortitude Family Office LLC purchased a new position in shares of SoFi Technologies during the 4th quarter valued at about $60,000. Finally, NBC Securities Inc. purchased a new position in shares of SoFi Technologies during the 3rd quarter valued at about $61,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Trading Up 0.3 %

SoFi Technologies stock traded up $0.02 during mid-day trading on Wednesday, hitting $7.60. The company’s stock had a trading volume of 39,539,117 shares, compared to its average volume of 52,386,816. SoFi Technologies, Inc. has a one year low of $4.45 and a one year high of $11.70. The stock has a market cap of $7.42 billion, a PE ratio of -19.76 and a beta of 1.75. The company has a 50 day moving average of $7.69 and a 200-day moving average of $7.90. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.23 and a current ratio of 1.04.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Monday, January 29th. The company reported $0.02 earnings per share for the quarter. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. The business had revenue of $615.40 million during the quarter, compared to analysts’ expectations of $572.02 million. During the same period in the prior year, the business earned ($0.05) EPS. The business’s revenue for the quarter was up 34.7% compared to the same quarter last year. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Insider Buying and Selling

In related news, CTO Jeremy Rishel sold 56,273 shares of the company’s stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $6.93, for a total transaction of $389,971.89. Following the completion of the sale, the chief technology officer now directly owns 390,616 shares in the company, valued at approximately $2,706,968.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

SOFI has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on SoFi Technologies in a research report on Wednesday, January 10th. They set a “hold” rating and a $11.00 price objective on the stock. Needham & Company LLC assumed coverage on SoFi Technologies in a report on Wednesday, April 3rd. They issued a “buy” rating and a $10.00 price target on the stock. Morgan Stanley reissued an “underweight” rating and issued a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a report on Wednesday, January 31st. Jefferies Financial Group lowered their price target on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a report on Tuesday, March 26th. Finally, Keefe, Bruyette & Woods raised SoFi Technologies from an “underperform” rating to a “market perform” rating and upped their price objective for the stock from $6.50 to $7.50 in a report on Friday, April 5th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, SoFi Technologies has a consensus rating of “Hold” and a consensus target price of $9.08.

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.