Beacon Pointe Advisors LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 52,919 shares of the company's stock, valued at approximately $949,000.
Several other large investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in SoFi Technologies in the 2nd quarter valued at approximately $1,298,925,000. Norges Bank bought a new position in shares of SoFi Technologies during the 4th quarter worth approximately $321,515,000. Bank of America Corp DE acquired a new stake in shares of SoFi Technologies in the second quarter valued at approximately $163,808,000. State Street Corp raised its holdings in shares of SoFi Technologies by 30.7% in the third quarter. State Street Corp now owns 24,300,498 shares of the company's stock valued at $642,019,000 after purchasing an additional 5,708,053 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of SoFi Technologies by 372.9% in the fourth quarter. Marshall Wace LLP now owns 6,650,744 shares of the company's stock valued at $174,116,000 after purchasing an additional 5,244,291 shares during the last quarter. Institutional investors own 38.43% of the company's stock.
Analyst Ratings Changes
A number of analysts recently issued reports on SOFI shares. Truist Financial lifted their target price on SoFi Technologies from $18.00 to $19.00 and gave the company a "hold" rating in a research report on Wednesday, August 12th. Citigroup reduced their price target on SoFi Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research report on Monday, May 4th. Wells Fargo & Company decreased their price target on SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. Weiss Ratings raised SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Finally, Piper Sandler began coverage on SoFi Technologies in a research note on Monday, August 17th. They set an "overweight" rating and a $22.00 price objective on the stock. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $22.42.
Read Our Latest Stock Analysis on SOFI
Insider Activity
In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the firm's stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the sale, the executive vice president directly owned 356,442 shares in the company, valued at $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the business's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer owned 895,089 shares of the company's stock, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 136,505 shares of company stock worth $2,418,096. Insiders own 2.50% of the company's stock.
SoFi Technologies Stock Performance
SOFI opened at $17.88 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. SoFi Technologies, Inc. has a 12-month low of $14.88 and a 12-month high of $32.73. The business has a 50 day moving average of $17.85 and a 200-day moving average of $17.51. The stock has a market cap of $23.09 billion, a price-to-earnings ratio of 37.25 and a beta of 2.17.
SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The firm's revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.
About SoFi Technologies
(
Free Report)
SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.
SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.
See Also
Want to see what other hedge funds are holding SOFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report).
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