Brighton Jones LLC Sells 9,571 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Brighton Jones LLC lessened its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 685,060 shares of the company’s stock after selling 9,571 shares during the quarter. Brighton Jones LLC owned about 0.07% of SoFi Technologies worth $6,816,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SOFI. Vanguard Group Inc. grew its stake in shares of SoFi Technologies by 3.5% during the third quarter. Vanguard Group Inc. now owns 76,402,753 shares of the company’s stock worth $610,458,000 after acquiring an additional 2,567,797 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in SoFi Technologies by 102.4% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after purchasing an additional 250,854 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in SoFi Technologies by 202.3% during the 3rd quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock valued at $120,000 after purchasing an additional 10,013 shares in the last quarter. Baltimore Washington Financial Advisors Inc. raised its holdings in shares of SoFi Technologies by 18.0% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 390,098 shares of the company’s stock worth $3,117,000 after buying an additional 59,412 shares during the last quarter. Finally, Hartline Investment Corp raised its holdings in shares of SoFi Technologies by 3.4% in the third quarter. Hartline Investment Corp now owns 865,756 shares of the company’s stock worth $6,917,000 after buying an additional 28,115 shares during the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 56,273 shares of the firm’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $6.93, for a total value of $389,971.89. Following the transaction, the chief technology officer now directly owns 390,616 shares of the company’s stock, valued at $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Price Performance

Shares of SOFI stock traded down $0.26 during trading hours on Tuesday, hitting $6.78. 78,125,041 shares of the company’s stock were exchanged, compared to its average volume of 54,248,082. The firm has a 50 day moving average of $7.61 and a two-hundred day moving average of $7.88. SoFi Technologies, Inc. has a fifty-two week low of $4.45 and a fifty-two week high of $11.70. The firm has a market cap of $6.62 billion, a P/E ratio of -17.82 and a beta of 1.75. The company has a quick ratio of 0.23, a current ratio of 1.04 and a debt-to-equity ratio of 1.00.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Monday, April 29th. The company reported $0.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.01. The company had revenue of $580.60 million for the quarter, compared to analysts’ expectations of $555.27 million. SoFi Technologies had a negative return on equity of 1.23% and a negative net margin of 14.65%. SoFi Technologies’s revenue was up 26.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.05) EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.08 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group cut their target price on SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Citigroup started coverage on SoFi Technologies in a research note on Monday, April 8th. They issued a “buy” rating and a $11.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $10.00 target price on shares of SoFi Technologies in a research report on Tuesday. Keefe, Bruyette & Woods raised shares of SoFi Technologies from an “underperform” rating to a “market perform” rating and raised their price target for the stock from $6.50 to $7.50 in a research report on Friday, April 5th. Finally, Deutsche Bank Aktiengesellschaft dropped their price objective on shares of SoFi Technologies from $12.00 to $11.00 and set a “hold” rating on the stock in a report on Tuesday. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies currently has an average rating of “Hold” and an average price target of $9.08.

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.