NewEdge Advisors LLC Acquires 153,164 Shares of SoFi Technologies, Inc. $SOFI

NewEdge Advisors LLC raised its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 38.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 555,799 shares of the company's stock after acquiring an additional 153,164 shares during the period. NewEdge Advisors LLC's holdings in SoFi Technologies were worth $9,965,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of SOFI. Vermillion Wealth Management Inc. lifted its holdings in shares of SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock worth $26,000 after acquiring an additional 739 shares during the last quarter. Reflection Asset Management acquired a new stake in shares of SoFi Technologies in the 4th quarter valued at approximately $28,000. Cornerstone Planning Group LLC grew its holdings in shares of SoFi Technologies by 232.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company's stock valued at $34,000 after purchasing an additional 1,467 shares during the last quarter. Compass Financial Management LLC bought a new stake in shares of SoFi Technologies during the 2nd quarter valued at approximately $34,000. Finally, Raiffeisen Bank International AG acquired a new position in SoFi Technologies during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on SOFI shares. Needham & Company LLC dropped their price objective on shares of SoFi Technologies from $25.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Morgan Stanley decreased their target price on shares of SoFi Technologies from $16.00 to $15.00 and set an "underweight" rating on the stock in a research note on Thursday, July 30th. The Goldman Sachs Group upped their price target on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a "neutral" rating in a report on Thursday, July 9th. Wells Fargo & Company dropped their price target on SoFi Technologies from $18.00 to $17.00 and set an "equal weight" rating for the company in a research note on Thursday, July 30th. Finally, Scotiabank assumed coverage on SoFi Technologies in a report on Wednesday, September 2nd. They set a "sector outperform" rating and a $25.00 price objective on the stock. Nine analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average price target of $22.52.

SoFi Technologies Stock Up 0.6%

NASDAQ:SOFI opened at $17.32 on Friday. The firm's 50 day simple moving average is $17.83 and its 200 day simple moving average is $17.41. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. SoFi Technologies, Inc. has a one year low of $14.88 and a one year high of $32.73. The company has a market cap of $22.37 billion, a PE ratio of 36.08, a P/E/G ratio of 1.42 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.11 by $0.01. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company's revenue for the quarter was up 42.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 102,123 shares of the stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares in the company, valued at $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 11,286 shares of the firm's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president directly owned 356,442 shares of the company's stock, valued at approximately $6,415,956. This represents a 3.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 136,505 shares of company stock worth $2,418,096. 2.50% of the stock is currently owned by insiders.

SoFi Technologies Profile

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.

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