Mainstay Capital Management LLC ADV Acquires 21,957 Shares of SoFi Technologies, Inc. $SOFI

Mainstay Capital Management LLC ADV lifted its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 114.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 41,216 shares of the company's stock after acquiring an additional 21,957 shares during the period. Mainstay Capital Management LLC ADV's holdings in SoFi Technologies were worth $751,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in SOFI. Hazlett Burt & Watson Inc. raised its position in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new position in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. Garde Capital Inc. bought a new position in shares of SoFi Technologies in the 1st quarter worth approximately $31,000. Finally, Larson Financial Group LLC raised its position in shares of SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after acquiring an additional 1,519 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

SoFi Technologies Stock Performance

SOFI stock opened at $28.02 on Thursday. The company has a market cap of $33.55 billion, a P/E ratio of 58.38, a price-to-earnings-growth ratio of 3.34 and a beta of 1.92. SoFi Technologies, Inc. has a 1 year low of $8.30 and a 1 year high of $30.30. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The stock's fifty day moving average price is $25.37 and its 200-day moving average price is $18.46.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released 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 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% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities 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 topic of several recent research reports. Keefe, Bruyette & Woods upped their price target on SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research note on Tuesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of SoFi Technologies in a research note on Wednesday. Needham & Company LLC upped their price target on SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. JMP Securities restated a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a research note on Monday, July 14th. Finally, Cowen began coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $20.18.

Insider Transactions at SoFi Technologies

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