iA Global Asset Management Inc. Has $487,000 Position in SoFi Technologies, Inc. $SOFI

Key Points

• iA Global Asset Management cut its SoFi Technologies stake by 77.7% in the fourth quarter, selling 64,879 shares and leaving it with 18,611 shares valued at about $487,000.
• SoFi’s latest quarterly results beat revenue expectations, with $1.09 billion in revenue and $0.12 EPS, while revenue rose 42.6% year over year.
• Wall Street remains cautious overall: analysts currently give SoFi a Hold consensus rating, with an average price target of $22.56, even as some firms have raised or lowered their targets.

iA Global Asset Management Inc. trimmed its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 77.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,611 shares of the company's stock after selling 64,879 shares during the quarter. iA Global Asset Management Inc.'s holdings in SoFi Technologies were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in SOFI. Valley Wealth Managers Inc. acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $25,000. Blue Trust Inc. grew its holdings in SoFi Technologies by 655.2% during the 4th 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 last quarter. Central Pacific Bank Trust Division bought a new stake in SoFi Technologies during the 4th quarter worth approximately $28,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in SoFi Technologies during the 4th quarter worth approximately $29,000. Finally, Quaker Wealth Management LLC grew its holdings in SoFi Technologies by 2,745.2% during the 4th quarter. Quaker Wealth Management LLC now owns 1,195 shares of the company's stock worth $31,000 after acquiring an additional 1,153 shares during the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company reduced their target price 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. Morgan Stanley set a $16.00 target price on shares of SoFi Technologies in a report on Thursday, April 30th. Truist Financial reduced their target price on shares of SoFi Technologies from $20.00 to $17.00 and set a "hold" rating on the stock in a report on Tuesday, May 12th. Weiss Ratings upgraded shares of SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. upgraded shares of SoFi Technologies from a "neutral" rating to an "overweight" rating and set a $31.00 price target on the stock in a research report on Tuesday, February 3rd. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of "Hold" and an average price target of $22.56.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $15.71 on Tuesday. The firm has a market capitalization of $20.15 billion, a PE ratio of 35.71 and a beta of 2.12. The firm has a fifty day simple moving average of $17.03 and a two-hundred day simple moving average of $22.44. 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 $12.74 and a 12 month high of $32.73.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $1.05 billion. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. SoFi Technologies's quarterly revenue was up 42.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 94,958 shares of the business's stock in a transaction on Wednesday, March 18th. The shares were sold at an average price of $17.43, for a total transaction of $1,655,117.94. Following the completion of the sale, the chief technology officer owned 839,640 shares in the company, valued at approximately $14,634,925.20. The trade was a 10.16% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 9,742 shares of the business's stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $19.25, for a total transaction of $187,533.50. Following the sale, the executive vice president owned 333,284 shares of the company's stock, valued at $6,415,717. This trade represents a 2.84% 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. In the last 90 days, insiders sold 124,197 shares of company stock worth $2,191,758. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Company 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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