Bank of New York Mellon Corp Sells 301,239 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Bank of New York Mellon trimmed its stake in SoFi by 9.2% in Q2, selling 301,239 shares and ending the quarter with 2,959,986 shares (about 0.27% of the company) valued at roughly $53.9 million.
• Insider selling was notable — EVP Kelli Keough and CTO Jeremy Rishel sold stock (total insider sales last quarter were 129,383 shares worth $3.51 million), and company insiders now own about 2.60% of SoFi.
• Operational results beat estimates: SoFi reported $0.11 EPS and $949.6M revenue (both above consensus) with revenue up 37.7% year‑over‑year and set FY2025 EPS guidance of 0.37, while analysts maintain an average "Hold" rating and a $25.06 target.

Bank of New York Mellon Corp lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 9.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,959,986 shares of the company's stock after selling 301,239 shares during the quarter. Bank of New York Mellon Corp owned 0.27% of SoFi Technologies worth $53,901,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Freestone Capital Holdings LLC lifted its holdings in shares of SoFi Technologies by 13.0% during the 2nd quarter. Freestone Capital Holdings LLC now owns 33,866 shares of the company's stock valued at $617,000 after buying an additional 3,905 shares during the period. Machina Capital S.A.S. bought a new stake in shares of SoFi Technologies in the second quarter worth $234,000. Burney Co. increased its position in SoFi Technologies by 0.4% during the second quarter. Burney Co. now owns 147,136 shares of the company's stock valued at $2,679,000 after acquiring an additional 557 shares during the last quarter. W.G. Shaheen & Associates DBA Whitney & Co bought a new position in SoFi Technologies in the second quarter valued at about $275,000. Finally, Sigma Planning Corp lifted its holdings in SoFi Technologies by 34.7% in the second quarter. Sigma Planning Corp now owns 60,653 shares of the company's stock valued at $1,104,000 after acquiring an additional 15,617 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,036 shares of the firm's stock in a transaction on Monday, October 20th. The shares were sold at an average price of $28.33, for a total transaction of $284,319.88. Following the completion of the transaction, the executive vice president directly owned 275,374 shares of the company's stock, valued at approximately $7,801,345.42. This trade represents a 3.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 129,383 shares of company stock worth $3,513,171. Company insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $30.54 on Tuesday. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month high of $32.56. The business has a 50-day moving average price of $27.74 and a 200-day moving average price of $21.42. The firm has a market cap of $36.57 billion, a price-to-earnings ratio of 56.56, a price-to-earnings-growth ratio of 2.75 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.52% and a net margin of 19.29%.The company had revenue of $949.63 million for the quarter, compared to analysts' expectations of $880.33 million. During the same period in the previous year, the firm earned $0.05 EPS. The firm's revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. UBS Group boosted their price target on SoFi Technologies from $20.50 to $27.50 and gave the company a "neutral" rating in a research note on Thursday, October 30th. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price objective on the stock. Truist Financial upped their target price on shares of SoFi Technologies from $29.00 to $31.00 and gave the company a "hold" rating in a report on Tuesday, November 4th. Weiss Ratings reiterated a "hold (c)" rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. Finally, Citizens Jmp downgraded shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $25.06.

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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