Janney Montgomery Scott LLC Acquires 19,439 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Janney Montgomery Scott LLC increased its stake in SoFi Technologies by 13.1%, acquiring an additional 19,439 shares, bringing its total holdings to 167,370 shares valued at approximately $3.05 million.
• SoFi Technologies reported a quarterly EPS of $0.08, surpassing the consensus estimate of $0.06, while its revenue rose by 42.8% year-over-year, totaling $519.37 million.
• Several institutional investors have recently adjusted their positions in SoFi, with Vanguard Group increasing its holding by 1.1% and CMG Global Holdings boosting its stake by 77.8% during the first quarter.

Janney Montgomery Scott LLC lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 13.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 167,370 shares of the company's stock after acquiring an additional 19,439 shares during the period. Janney Montgomery Scott LLC's holdings in SoFi Technologies were worth $3,048,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SOFI. Vanguard Group Inc. boosted its stake in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after buying an additional 1,130,250 shares during the last quarter. CMG Global Holdings LLC boosted its stake in SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after buying an additional 61,443 shares during the last quarter. Nicholas Wealth LLC. bought a new position in SoFi Technologies during the first quarter valued at approximately $993,000. Quantitative Investment Management LLC bought a new position in SoFi Technologies during the first quarter valued at approximately $2,862,000. Finally, Sierra Summit Advisors LLC bought a new position in SoFi Technologies during the first quarter valued at approximately $9,715,000. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Trading Down 0.4%

SOFI opened at $28.02 on Thursday. The stock's fifty day moving average is $25.37 and its two-hundred day moving average is $18.46. The company has a market capitalization of $33.55 billion, a P/E ratio of 58.38, a PEG ratio of 3.34 and a beta of 1.92. SoFi Technologies, Inc. has a 52 week low of $8.30 and a 52 week high of $30.30. 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 released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.SoFi Technologies's quarterly revenue was up 42.8% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analysts Set New Price Targets

SOFI has been the subject of a number of research reports. The Goldman Sachs Group initiated coverage on SoFi Technologies in a research note on Monday, July 14th. They set a "neutral" rating and a $19.00 price target for the company. Citizens Jmp lowered SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. Weiss Ratings reissued a "hold (c)" rating on shares of SoFi Technologies in a research note on Wednesday. Stephens began coverage on SoFi Technologies in a research note on Thursday, June 12th. They set an "overweight" rating and a $20.00 price target for the company. Finally, JMP Securities reaffirmed a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $20.18.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,036 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.86, for a total transaction of $279,602.96. Following the sale, the executive vice president owned 285,410 shares of the company's stock, valued at approximately $7,951,522.60. This trade represents a 3.40% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction 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 sale, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 129,614 shares of company stock worth $3,452,672 in the last ninety days. Insiders own 2.60% of the company's stock.

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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