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

Empowered Funds LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 174,961 shares of the company's stock, valued at approximately $3,137,000.

A number of other institutional investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new position in shares of SoFi Technologies in the 2nd quarter valued at $1,298,925,000. North Dakota State Investment Board purchased a new position in SoFi Technologies in the 4th quarter worth $1,044,000. Brighton Jones LLC lifted its position in SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after acquiring an additional 14,281 shares during the period. Alberta Investment Management Corp acquired a new stake in SoFi Technologies during the 4th quarter worth about $13,299,000. Finally, Trek Financial LLC purchased a new stake in SoFi Technologies during the 4th quarter valued at about $3,865,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $17.05 on Wednesday. The firm has a market capitalization of $22.02 billion, a P/E ratio of 35.52 and a beta of 2.20. The stock has a 50-day simple moving average of $17.85 and a two-hundred day simple moving average of $17.49. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. SoFi Technologies, Inc. has a fifty-two week low of $14.88 and a fifty-two week high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business's quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insiders Place Their Bets

In other SoFi Technologies 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 value of $1,815,746.94. Following the completion of the transaction, the chief technology officer owned 895,089 shares in the company, 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 legal filing with the SEC, which is accessible through this link. 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, EVP Kelli Keough sold 11,286 shares of the stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the sale, the executive vice president directly owned 356,442 shares in the company, valued at approximately $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 136,505 shares of company stock worth $2,418,096 over the last three months. 2.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Piper Sandler started coverage on SoFi Technologies in a report on Monday, August 17th. They issued an "overweight" rating and a $22.00 price objective on the stock. Morgan Stanley decreased their target price on SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating for the company in a report on Thursday, July 30th. Weiss Ratings upgraded SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Tuesday, August 11th. Mizuho cut their price target on shares of SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating on the stock in a report on Friday, July 31st. Finally, The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a research report on Thursday, July 9th. Eight research 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. Based on data from MarketBeat, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $22.42.

About SoFi Technologies

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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