Azora Capital LP Sells 2,167,010 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Azora Capital LP has reduced its stake in SoFi Technologies by 49.0%, selling 2,167,010 shares and bringing its total ownership to 2,252,335 shares.
• Insiders sold a total of 272,239 shares worth $4,123,194 in the last quarter, indicating potential concerns about the stock's performance.
• SoFi Technologies reported a 42.8% year-over-year increase in revenue, but the latest quarterly earnings fell short of consensus estimates, reporting a net margin of 18.38% and EPS of $0.08.

Azora Capital LP decreased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 49.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,252,335 shares of the company's stock after selling 2,167,010 shares during the quarter. SoFi Technologies comprises approximately 1.8% of Azora Capital LP's investment portfolio, making the stock its 19th largest position. Azora Capital LP owned approximately 0.21% of SoFi Technologies worth $26,195,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC bought a new position in SoFi Technologies during the 4th quarter worth approximately $32,000. Hazlett Burt & Watson Inc. raised its holdings in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new position in SoFi Technologies during the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new position in SoFi Technologies during the 1st quarter worth approximately $28,000. Finally, Garde Capital Inc. bought a new position in SoFi Technologies during the 1st quarter worth approximately $31,000. Institutional investors own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the sale, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the sale, the executive vice president owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 272,239 shares of company stock worth $4,123,194 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $26.04 on Friday. The company has a fifty day simple moving average of $21.17 and a 200 day simple moving average of $15.83. SoFi Technologies, Inc. has a 12-month low of $6.75 and a 12-month high of $26.60. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The company has a market cap of $31.18 billion, a P/E ratio of 54.25, a PEG ratio of 3.09 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. During the same quarter last year, the firm posted $0.01 EPS. SoFi Technologies's revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

SOFI has been the subject of several research analyst reports. JMP Securities reiterated a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research note on Monday, August 4th. Mizuho set a $26.00 price objective on shares of SoFi Technologies and gave the company an "outperform" rating in a research note on Thursday, July 31st. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective for the company. Finally, Stephens began coverage on shares of SoFi Technologies in a research note on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus price target of $19.35.

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.

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