Clare Market Investments LLC Buys Shares of 35,905 SoFi Technologies, Inc. $SOFI

Key Points

• Clare Market Investments initiated a new position in SoFi Technologies, buying 35,905 shares worth about $570,000 in the first quarter.
• Insider activity was mixed: CTO Jeremy Rishel sold 102,123 shares under a pre-arranged trading plan, while CEO Anthony Noto bought 15,545 shares earlier this year.
• SoFi reported Q1 EPS of $0.12 and revenue of $1.09 billion, topping revenue estimates and growing 42.6% year over year; analysts currently rate the stock Hold with an average target price of $22.56.

Clare Market Investments LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 35,905 shares of the company's stock, valued at approximately $570,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in 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 during the period. Caxton Associates LLP bought a new stake in SoFi Technologies during the 1st quarter valued at $129,000. Empowered Funds LLC boosted its position in SoFi Technologies by 5.2% during the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company's stock worth $385,000 after acquiring an additional 1,631 shares during the period. Franklin Resources Inc. grew its stake in shares of SoFi Technologies by 23.2% in the second quarter. Franklin Resources Inc. now owns 13,796 shares of the company's stock worth $251,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of SoFi Technologies during the second quarter valued at $4,633,000. Institutional investors own 38.43% of the company's stock.

Insiders Place Their Bets

In other news, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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. Also, CEO Anthony Noto acquired 15,545 shares of SoFi Technologies stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $16.00 per share, with a total value of $248,720.00. Following the transaction, the chief executive officer directly owned 11,946,619 shares in the company, valued at approximately $191,145,904. This trade represents a 0.13% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have sold 134,044 shares of company stock worth $2,370,056 in the last ninety days. Insiders own 2.50% of the company's stock.

SoFi Technologies Stock Performance

SOFI stock opened at $18.40 on Tuesday. The company has a market capitalization of $23.60 billion, a price-to-earnings ratio of 41.83 and a beta of 2.14. The firm has a 50 day moving average of $16.88 and a two-hundred day moving average of $19.67. The company has a quick ratio of 0.13, a current ratio of 0.75 and a debt-to-equity ratio of 0.17. SoFi Technologies, Inc. has a 12 month low of $14.92 and a 12 month high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, meeting analysts' consensus estimates of $0.12. SoFi Technologies had a return on equity of 6.25% and a net margin of 14.65%.The business had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm posted $0.06 EPS. The firm's revenue for the quarter was up 42.6% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities analysts anticipate that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on SOFI shares. Needham & Company LLC decreased their target price on shares of SoFi Technologies from $33.00 to $25.00 and set a "buy" rating for the company in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $18.00 price objective on shares of SoFi Technologies in a research note on Thursday, April 30th. Argus assumed coverage on SoFi Technologies in a research note on Wednesday, April 15th. They set a "hold" rating for the company. UBS Group dropped their price objective on SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating on the stock in a research note on Thursday, April 30th. Finally, Weiss Ratings cut SoFi Technologies from a "hold (c)" rating to a "hold (c-)" rating in a research note on Tuesday, May 26th. Seven investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $22.56.

SoFi Technologies Company Profile

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.

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