Clarus Wealth Advisors Has $1.67 Million Position in SoFi Technologies, Inc. $SOFI

Key Points

• Clarus Wealth Advisors increased its stake in SoFi Technologies by 18.0% during the 2nd quarter, bringing its total holdings to 83,691 shares valued at $1.67 million.
• The stock has been subject to significant insider selling, with EVP Kelli Keough and CTO Jeremy Rishel selling over 77,000 shares combined in recent months, indicating a 4.31% and 8.45% decrease in their respective ownerships.
• SoFi Technologies reported a 42.8% year-over-year increase in revenue, with earnings per share of $0.08 for its latest quarter, surpassing analyst expectations.

Clarus Wealth Advisors lifted its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 18.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 83,691 shares of the company's stock after buying an additional 12,756 shares during the period. Clarus Wealth Advisors' holdings in SoFi Technologies were worth $1,670,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its position in shares of SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies during the first quarter worth about $28,000. SVB Wealth LLC acquired a new position in shares of SoFi Technologies during the first quarter worth about $28,000. Garde Capital Inc. acquired a new position in shares of SoFi Technologies during the first quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of SoFi Technologies during the fourth quarter worth about $32,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. The trade was a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders sold 97,959 shares of company stock worth $1,653,646 in the last ninety days. 2.60% of the stock is owned by company insiders.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $27.67 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. The stock's 50 day moving average price is $23.22 and its two-hundred day moving average price is $16.73. The firm has a market capitalization of $33.13 billion, a price-to-earnings ratio of 57.65, a P/E/G ratio of 3.14 and a beta of 1.93. SoFi Technologies, Inc. has a 12-month low of $7.57 and a 12-month high of $27.77.

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

Wall Street Analyst Weigh In

Several analysts recently issued reports on SOFI shares. JMP Securities reiterated a "market perform" rating and set a $17.00 target price on shares of SoFi Technologies in a report on Monday, July 14th. Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods upped their target price on SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Citigroup upped their target price on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, Needham & Company LLC upped their target price on SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $19.59.

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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