D.A. Davidson & CO. Raises Stock Position in SoFi Technologies, Inc. $SOFI

Key Points

• D.A. Davidson & Co. increased its SoFi Technologies stake by 22.2% in the first quarter, buying 48,682 more shares and bringing its total to 267,848 shares worth about $4.25 million.
• Analysts remain cautious on SOFI: the consensus rating is Hold with an average price target of $22.78, even as some firms trimmed targets and one kept a Buy rating.
• Company insiders were active, with CEO Anthony Noto buying shares and CTO Jeremy Rishel selling shares under a Rule 10b5-1 plan to cover tax withholding, while SoFi also reported Q1 revenue of $1.09 billion, up 42.6% year over year.

D.A. Davidson & CO. boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 22.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 267,848 shares of the company's stock after purchasing an additional 48,682 shares during the period. D.A. Davidson & CO.'s holdings in SoFi Technologies were worth $4,253,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Valley Wealth Managers Inc. acquired a new position in shares of SoFi Technologies in the 4th quarter valued at about $25,000. Blue Trust Inc. grew its holdings in SoFi Technologies by 655.2% during the fourth quarter. Blue Trust Inc. now owns 1,012 shares of the company's stock worth $26,000 after acquiring an additional 878 shares during the period. Vermillion Wealth Management Inc. grew its holdings in SoFi Technologies by 283.1% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock worth $26,000 after acquiring an additional 739 shares during the period. Central Pacific Bank Trust Division purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $28,000. Finally, Reflection Asset Management purchased a new position in SoFi Technologies during the fourth quarter valued at approximately $28,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SOFI has been the topic of several recent research reports. UBS Group lowered their price objective on SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating on the stock in a research report on Thursday, April 30th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $18.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Barclays decreased their target price on shares of SoFi Technologies from $28.00 to $18.00 and set an "equal weight" rating for the company in a research note on Monday, April 6th. Wells Fargo & Company lowered their price target on shares of SoFi Technologies from $19.00 to $18.00 and set an "equal weight" rating on the stock in a report on Thursday, April 9th. Finally, Citigroup dropped their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $22.78.

Insider Buying and Selling

In related news, CEO Anthony Noto purchased 15,545 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was bought at an average price of $16.00 per share, with a total value of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares in the company, valued at $191,145,904. The trade was a 0.13% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the transaction, the chief technology officer owned 895,089 shares of the company's stock, valued at $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. 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. In the last quarter, insiders sold 134,044 shares of company stock valued at $2,370,056. 2.50% of the stock is owned by corporate insiders.

SoFi Technologies Stock Down 0.2%

Shares of SOFI opened at $17.28 on Friday. The company has a current ratio of 0.75, a quick ratio of 0.13 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. The stock's 50 day moving average is $17.10 and its two-hundred day moving average is $19.16. The firm has a market cap of $22.17 billion, a P/E ratio of 39.27 and a beta of 2.14.

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

SoFi Technologies 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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