Belpointe Asset Management LLC Grows Stock Holdings in SoFi Technologies, Inc. $SOFI

Key Points

• Belpointe Asset Management LLC increased its stake in SoFi Technologies by 296.9%, acquiring an additional 57,265 shares, bringing its total holdings to 76,552 shares valued at $1.394 million.
• Multiple hedge funds have significantly boosted their positions in SoFi, with NBC Securities Inc. raising its holdings by an astounding 109,571.4% during the first quarter.
• SoFi Technologies recently reported a quarterly earnings per share of $0.08, exceeding expectations, even though its revenue of $519.37 million fell short of the estimated $801.94 million.

Belpointe Asset Management LLC boosted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 296.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,552 shares of the company's stock after buying an additional 57,265 shares during the period. Belpointe Asset Management LLC's holdings in SoFi Technologies were worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of SOFI. Brighton Jones LLC grew its position in shares of SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after purchasing an additional 14,281 shares in the last quarter. GAMMA Investing LLC grew its position in shares of SoFi Technologies by 1,525.8% during the 1st quarter. GAMMA Investing LLC now owns 96,331 shares of the company's stock valued at $1,120,000 after purchasing an additional 90,406 shares in the last quarter. NBC Securities Inc. grew its position in shares of SoFi Technologies by 109,571.4% during the 1st quarter. NBC Securities Inc. now owns 7,677 shares of the company's stock valued at $89,000 after purchasing an additional 7,670 shares in the last quarter. Wedmont Private Capital grew its position in shares of SoFi Technologies by 12.6% during the 1st quarter. Wedmont Private Capital now owns 20,614 shares of the company's stock valued at $221,000 after purchasing an additional 2,299 shares in the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of SoFi Technologies by 73.3% during the 1st quarter. Farther Finance Advisors LLC now owns 4,348 shares of the company's stock valued at $52,000 after purchasing an additional 1,839 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SOFI has been the subject of a number of recent analyst reports. Citigroup boosted their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. Cowen began coverage on SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating for the company. Needham & Company LLC lifted their price target on SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Finally, JMP Securities reaffirmed a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a research note on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $20.18.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $28.14 on Wednesday. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $33.70 billion, a PE ratio of 58.63, a P/E/G ratio of 3.13 and a beta of 1.92. The firm has a fifty day simple moving average of $25.25 and a two-hundred day simple moving average of $18.39. SoFi Technologies, Inc. has a twelve month low of $8.26 and a twelve month high of $30.30.

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 for the quarter, topping the consensus estimate of $0.06 by $0.02. The business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Research analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 10,036 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.86, for a total transaction of $279,602.96. Following the completion of the transaction, the executive vice president directly owned 285,410 shares of the company's stock, valued at approximately $7,951,522.60. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the company's stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,614 shares of company stock valued at $3,452,672 over the last three months. 2.60% of the stock is currently owned by insiders.

SoFi Technologies 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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