Invesco Ltd. Decreases Stake in SoFi Technologies, Inc. $SOFI

Key Points

• Invesco Ltd. has reduced its stake in SoFi Technologies by 35.3%, now holding 911,464 shares valued at approximately $10.6 million.
• SoFi Technologies stock experienced a 4.5% increase, with shares trading at $26.15 and a market capitalization of $31.31 billion.
• Various institutions, including Mpwm Advisory Solutions LLC and Hazlett Burt & Watson Inc., have made changes to their positions in SoFi, contributing to 38.43% institutional ownership of the stock.

Invesco Ltd. trimmed its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 35.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 911,464 shares of the company's stock after selling 497,337 shares during the quarter. Invesco Ltd. owned approximately 0.08% of SoFi Technologies worth $10,600,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies in the fourth quarter worth approximately $32,000. Hazlett Burt & Watson Inc. grew its holdings in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares in the last quarter. Headlands Technologies LLC bought a new stake in SoFi Technologies during the first quarter worth $28,000. Garde Capital Inc. bought a new stake in SoFi Technologies during the first quarter worth $31,000. Finally, Larson Financial Group LLC grew its holdings in SoFi Technologies by 127.1% during the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after buying an additional 1,519 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SOFI has been the topic of several research analyst reports. Keefe, Bruyette & Woods boosted their price objective on SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. 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 objective on the stock. UBS Group increased their price objective on SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a report on Wednesday, April 30th. JMP Securities reaffirmed a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. Finally, Redburn Atlantic raised SoFi Technologies to a "hold" rating in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $19.35.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the transaction, the director owned 289,258 shares in the company, valued at approximately $4,162,422.62. The trade was a 23.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares of the company's stock, valued at $5,192,184.86. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 272,239 shares of company stock worth $4,123,194. 2.60% of the stock is owned by insiders.

SoFi Technologies Stock Up 4.5%

Shares of SOFI traded up $1.13 on Monday, reaching $26.15. The stock had a trading volume of 89,870,878 shares, compared to its average volume of 79,393,200. The firm has a market capitalization of $31.31 billion, a price-to-earnings ratio of 104.25, a price-to-earnings-growth ratio of 3.10 and a beta of 1.93. 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 company has a 50-day simple moving average of $20.32 and a 200-day simple moving average of $15.54. SoFi Technologies, Inc. has a 12-month low of $6.75 and a 12-month high of $26.38.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The company had revenue of $519.37 million during the quarter, compared to analysts' expectations of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm's revenue for the quarter was up 42.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

SoFi Technologies 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.