Joule Financial LLC Purchases New Position in SoFi Technologies, Inc. $SOFI

Joule Financial LLC acquired a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 49,576 shares of the company's stock, valued at approximately $903,000.

Several other institutional investors and hedge funds have also made changes to their positions in SOFI. Vanguard Group Inc. increased its position in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after buying an additional 1,130,250 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of SoFi Technologies by 2.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock valued at $75,278,000 after acquiring an additional 159,109 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of SoFi Technologies by 58.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company's stock valued at $50,467,000 after acquiring an additional 1,598,721 shares during the period. Nuveen LLC purchased a new stake in SoFi Technologies in the 1st quarter valued at $47,616,000. Finally, Bank of New York Mellon Corp boosted its stake in SoFi Technologies by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,261,225 shares of the company's stock worth $37,928,000 after purchasing an additional 37,855 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of the firm's stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total transaction of $234,091.14. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares of the company's stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,614 shares of company stock worth $3,452,672 in the last three months. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have commented on SOFI. Needham & Company LLC lifted their price objective on shares of SoFi Technologies from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. Keefe, Bruyette & Woods lifted their target price on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Citigroup boosted their target price on SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Finally, Cowen assumed coverage on SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, SoFi Technologies currently has an average rating of "Hold" and an average price target of $20.18.

SoFi Technologies Stock Down 2.8%

Shares of NASDAQ:SOFI opened at $25.24 on Monday. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $30.22 billion, a P/E ratio of 52.58, a P/E/G ratio of 3.00 and a beta of 1.92. SoFi Technologies, Inc. has a 52-week low of $7.90 and a 52-week high of $30.30. The stock's fifty day simple moving average is $25.03 and its 200-day simple moving average is $18.23.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm's revenue for the quarter was up 42.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.01 EPS. 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 fiscal year.

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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