Cannon Global Investment Management LLC Sells 12,254 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Cannon Global Investment Management LLC sold 12,254 shares of SoFi Technologies, reducing its holdings by 40.8%, leaving 17,746 shares valued at approximately $323,000.
• Several institutional investors have increased their positions in SoFi Technologies, with USAdvisors Wealth Management LLC and Wedmont Private Capital growing their holdings by 4.5% and 4.3%, respectively.
• CTO Jeremy Rishel and EVP Kelli Keough executed significant stock sales, decreasing their ownership by 11.50% and 3.40%, while insiders collectively sold 119,347 shares in the past quarter.

Cannon Global Investment Management LLC lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 40.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,746 shares of the company's stock after selling 12,254 shares during the quarter. Cannon Global Investment Management LLC's holdings in SoFi Technologies were worth $323,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. USAdvisors Wealth Management LLC grew its position in SoFi Technologies by 4.5% in the second quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company's stock worth $295,000 after acquiring an additional 700 shares in the last quarter. Wedmont Private Capital grew its position in SoFi Technologies by 4.3% in the second quarter. Wedmont Private Capital now owns 21,493 shares of the company's stock worth $435,000 after acquiring an additional 879 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its position in SoFi Technologies by 16.7% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock worth $81,000 after acquiring an additional 1,000 shares in the last quarter. Future Financial Wealth Managment LLC grew its position in SoFi Technologies by 7.4% in the second quarter. Future Financial Wealth Managment LLC now owns 14,500 shares of the company's stock worth $264,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Arkadios Wealth Advisors grew its position in SoFi Technologies by 1.8% in the first quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock worth $737,000 after acquiring an additional 1,092 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of the 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 completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,036 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.86, for a total transaction of $279,602.96. Following the sale, the executive vice president 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,347 shares of company stock valued at $3,228,852. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on SOFI shares. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $21.00 to $24.00 and gave the stock a "neutral" rating in a research report on Monday, October 13th. Mizuho upped their target price on shares of SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Weiss Ratings restated a "hold (c)" rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. TD Cowen began coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating and a $21.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a research report on Wednesday, August 20th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, SoFi Technologies has an average rating of "Hold" and an average target price of $20.71.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $26.54 on Friday. 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 firm has a 50-day moving average of $26.13 and a 200-day moving average of $19.17. The firm has a market cap of $31.78 billion, a P/E ratio of 55.29, a P/E/G ratio of 3.16 and a beta of 1.92. SoFi Technologies, Inc. has a 1-year low of $8.60 and a 1-year high of $30.30.

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

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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