Empowered Funds LLC Decreases Stock Position in SoFi Technologies, Inc. $SOFI

Key Points

• Empowered Funds LLC cut its SoFi Technologies stake by 34.8% in the first quarter, selling 35,128 shares and retaining 65,704 shares valued at approximately $1.04 million. Institutional investors collectively own 38.43% of the company.
• SoFi reported quarterly earnings of $0.12 per share, exceeding estimates by $0.01, while revenue rose 42.5% year over year to $1.21 billion. The stock opened at $18.38, compared with a consensus analyst price target of $22.38 and an overall “Hold” rating.
• Insider activity was mixed: CEO Anthony Noto bought 15,545 shares at $16 each, while CTO Jeremy Rishel sold 102,123 shares under a pre-arranged 10b5-1 plan to cover tax obligations.

Empowered Funds LLC lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 34.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,704 shares of the company's stock after selling 35,128 shares during the period. Empowered Funds LLC's holdings in SoFi Technologies were worth $1,043,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in shares of SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after buying an additional 14,281 shares in the last quarter. Caxton Associates LLP bought a new stake in SoFi Technologies in the 1st quarter worth approximately $129,000. Franklin Resources Inc. increased its stake in SoFi Technologies by 23.2% in the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company's stock worth $251,000 after acquiring an additional 2,596 shares during the last quarter. Arrowstreet Capital Limited Partnership purchased a new stake in shares of SoFi Technologies during the 2nd quarter worth approximately $4,633,000. Finally, Invesco Ltd. raised its holdings in shares of SoFi Technologies by 65.7% during the 2nd quarter. Invesco Ltd. now owns 1,510,159 shares of the company's stock worth $27,500,000 after acquiring an additional 598,695 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company's stock.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $18.38 on Friday. The stock has a market cap of $23.58 billion, a price-to-earnings ratio of 38.29 and a beta of 2.17. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. The stock has a 50 day moving average price of $17.46 and a 200-day moving average price of $18.14. SoFi Technologies, Inc. has a one year low of $14.88 and a one year high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. SoFi Technologies had a return on equity of 6.39% and a net margin of 14.78%.The company's revenue for the quarter was up 42.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. UBS Group cut their target price on shares of SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating for the company in a report on Thursday, April 30th. Argus assumed coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They set a "hold" rating on the stock. Needham & Company LLC lowered their price objective on shares of SoFi Technologies from $25.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. TD Cowen dropped their price objective on shares of SoFi Technologies from $24.00 to $18.00 and set a "hold" rating for the company in a research note on Thursday, April 30th. Finally, The Goldman Sachs Group boosted their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Seven investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $22.38.

Insider Buying and Selling at SoFi Technologies

In other news, CEO Anthony Noto bought 15,545 shares of SoFi Technologies stock in a transaction dated Monday, May 11th. The shares were acquired at an average price of $16.00 per share, with a total value of $248,720.00. Following the completion of the purchase, 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Jeremy Rishel sold 102,123 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief technology officer owned 895,089 shares of the company's stock, valued at $15,914,682.42. This trade represents a 10.24% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold 135,256 shares of company stock worth $2,370,822 over the last quarter. Insiders own 2.50% of the company's stock.

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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