Hartline Investment Corp Has $9.48 Million Stock Position in SoFi Technologies, Inc. $SOFI

Key Points

• Hartline Investment Corp significantly increased its stake in SoFi Technologies by 3,939.1%, owning 520,757 shares valued at approximately $9.48 million as of the latest SEC filing.
• Institutional investors possess 38.43% of SoFi Technologies stock, with Vanguard Group notably increasing its holdings by 1.1% during the first quarter.
• SoFi Technologies reported a 42.8% year-over-year increase in revenue despite falling short of analysts' expectations, with a quarterly earnings per share (EPS) of $0.08.

Hartline Investment Corp lifted its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 3,939.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 520,757 shares of the company's stock after acquiring an additional 507,864 shares during the quarter. SoFi Technologies makes up approximately 1.1% of Hartline Investment Corp's investment portfolio, making the stock its 22nd largest position. Hartline Investment Corp's holdings in SoFi Technologies were worth $9,483,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after acquiring an additional 1,130,250 shares during the last quarter. Sullivan Wood Capital Management LLC bought a new position in SoFi Technologies during the second quarter worth about $2,799,000. Blair William & Co. IL grew its holdings in SoFi Technologies by 443.9% during the second quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock worth $6,113,000 after purchasing an additional 273,972 shares during the period. CMG Global Holdings LLC grew its holdings in SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after purchasing an additional 61,443 shares during the period. Finally, Nicholas Wealth LLC. bought a new position in SoFi Technologies during the first quarter worth about $993,000. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Trading Down 0.2%

Shares of NASDAQ:SOFI opened at $26.54 on Friday. SoFi Technologies, Inc. has a 12-month low of $8.60 and a 12-month high of $30.30. The stock has a market cap of $31.78 billion, a PE ratio of 55.29, a P/E/G ratio of 3.16 and a beta of 1.92. The business has a 50 day moving average of $26.13 and a 200-day moving average of $19.17. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The company had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. During the same quarter in the previous year, the company posted $0.01 earnings per share. The business's revenue was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities research analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on SOFI shares. Mizuho lifted their price target on SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Truist Financial set a $23.00 price target on SoFi Technologies in a report on Monday, August 4th. Citizens Jmp cut SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. Rothschild & Co Redburn started coverage on SoFi Technologies in a report on Friday, August 1st. They set a "neutral" rating and a $20.50 price target for the company. Finally, JMP Securities reiterated a "market perform" rating and set a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $20.71.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,036 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.86, for a total value of $279,602.96. Following the completion of the sale, the executive vice president directly owned 285,410 shares in the company, valued at approximately $7,951,522.60. The trade was a 3.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the business's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares of the company's stock, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 119,347 shares of company stock valued at $3,228,852. 2.60% of the stock is currently owned by corporate insiders.

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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