Hartline Investment Corp Sells 144,593 Shares of SoFi Technologies, Inc. (NASDAQ:SOFI)

Hartline Investment Corp cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 16.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 721,163 shares of the company’s stock after selling 144,593 shares during the period. SoFi Technologies accounts for about 1.2% of Hartline Investment Corp’s investment portfolio, making the stock its 18th biggest position. Hartline Investment Corp owned approximately 0.08% of SoFi Technologies worth $7,176,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of SOFI. Vanguard Group Inc. raised 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 buying an additional 2,567,797 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of SoFi Technologies by 102.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 495,839 shares of the company’s stock worth $3,962,000 after buying an additional 250,854 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of SoFi Technologies by 202.3% during the third quarter. Exchange Traded Concepts LLC now owns 14,963 shares of the company’s stock worth $120,000 after buying an additional 10,013 shares during the last quarter. Dynamic Advisor Solutions LLC raised its stake in shares of SoFi Technologies by 24.9% during the third quarter. Dynamic Advisor Solutions LLC now owns 22,542 shares of the company’s stock worth $180,000 after buying an additional 4,491 shares during the last quarter. Finally, Baltimore Washington Financial Advisors Inc. raised its stake in shares of SoFi Technologies by 18.0% during 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. 38.43% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research analyst reports. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. Jefferies Financial Group dropped their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Tuesday, March 26th. Mizuho dropped their price target on shares of SoFi Technologies from $15.00 to $12.00 and set a “buy” rating on the stock in a research report on Thursday, January 18th. Morgan Stanley reaffirmed an “underweight” rating and set a $6.50 price target (down from $7.00) on shares of SoFi Technologies in a research report on Wednesday, January 31st. Finally, Wedbush reaffirmed an “underperform” rating and set a $3.00 price target on shares of SoFi Technologies in a research report on Wednesday, March 6th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $9.08.

SoFi Technologies Stock Performance

NASDAQ:SOFI traded up $0.02 during mid-day trading on Wednesday, reaching $7.60. 39,539,117 shares of the company’s stock were exchanged, 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 firm has a market capitalization of $7.42 billion, a PE ratio of -19.76 and a beta of 1.75. The business’s fifty day simple moving average is $7.69 and its two-hundred day simple moving average is $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 released its quarterly earnings results on Monday, January 29th. The company reported $0.02 EPS for the quarter. SoFi Technologies had a negative net margin of 14.65% and a negative return on equity of 1.23%. The business had revenue of $615.40 million for the quarter, compared to analyst estimates of $572.02 million. During the same period last year, the firm earned ($0.05) earnings per share. SoFi Technologies’s revenue for the quarter was up 34.7% compared to the same quarter last year. Analysts anticipate that SoFi Technologies, Inc. will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies 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 approximately $2,706,968.88. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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.