Fortis Capital Advisors LLC Acquires Shares of 44,567 SoFi Technologies, Inc. $SOFI

Key Points

• Fortis Capital Advisors LLC has acquired 44,567 shares of SoFi Technologies, Inc., valued at approximately $812,000, indicating growing institutional interest in the company.
• Analysts have varying ratings on SoFi Technologies, with one report downgrading it from a "strong-buy" to "market perform" while others set price targets between $17.00 and $28.00.
• Recent insider trading activity includes sales by EVP Kelli Keough and CTO Jeremy Rishel, reducing their stakes in the company by 4.31% and 11.50%, respectively.

Fortis Capital Advisors LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 44,567 shares of the company's stock, valued at approximately $812,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC increased its holdings in SoFi Technologies by 2.0% in the fourth 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 last quarter. GAMMA Investing LLC increased its holdings in SoFi Technologies by 1,525.8% in the first quarter. GAMMA Investing LLC now owns 96,331 shares of the company's stock valued at $1,120,000 after purchasing an additional 90,406 shares during the last quarter. Parallel Advisors LLC increased its holdings in SoFi Technologies by 19.4% in the first quarter. Parallel Advisors LLC now owns 8,754 shares of the company's stock valued at $102,000 after purchasing an additional 1,420 shares during the last quarter. Rhumbline Advisers increased its holdings in SoFi Technologies by 4.1% in the first quarter. Rhumbline Advisers now owns 1,075,817 shares of the company's stock valued at $12,512,000 after purchasing an additional 42,215 shares during the last quarter. Finally, NBC Securities Inc. increased its holdings in SoFi Technologies by 109,571.4% in the first quarter. NBC Securities Inc. now owns 7,677 shares of the company's stock valued at $89,000 after purchasing an additional 7,670 shares during the last quarter. Institutional investors own 38.43% of the company's stock.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of recent analyst reports. Citizens Jmp downgraded SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. Truist Financial set a $23.00 price target on SoFi Technologies in a report on Monday, August 4th. Morgan Stanley increased their price target on SoFi Technologies from $13.00 to $18.00 and gave the stock an "underweight" rating in a report on Monday. Citigroup increased their price target on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. Finally, JMP Securities restated a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $20.18.

Insider Buying and Selling

In other news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,614 shares of company stock worth $3,452,672. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $25.24 on Friday. The stock has a 50 day moving average price of $25.03 and a 200 day moving average price of $18.15. SoFi Technologies, Inc. has a 52 week low of $7.90 and a 52 week high of $30.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The stock has a market capitalization of $30.22 billion, a PE ratio of 52.58, a price-to-earnings-growth ratio of 3.09 and a beta of 1.92.

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. Analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

About SoFi Technologies

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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