NewEdge Advisors LLC Boosts Stock Holdings in SoFi Technologies, Inc. $SOFI

NewEdge Advisors LLC boosted its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 19.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 195,360 shares of the company's stock after purchasing an additional 31,360 shares during the period. NewEdge Advisors LLC's holdings in SoFi Technologies were worth $2,272,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the last quarter. CMG Global Holdings LLC lifted its stake in SoFi Technologies by 77.8% in the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock valued at $1,728,000 after purchasing an additional 61,443 shares during the last quarter. Nicholas Wealth LLC. purchased a new position in SoFi Technologies in the first quarter valued at approximately $993,000. Quantitative Investment Management LLC purchased a new position in SoFi Technologies in the first quarter valued at approximately $2,862,000. Finally, Sierra Summit Advisors LLC purchased a new position in SoFi Technologies in the first quarter valued at approximately $9,715,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup increased their target price on SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a research report on Wednesday, August 20th. Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. Cowen assumed coverage on SoFi Technologies in a research report on Friday, July 11th. They set a "hold" rating on the stock. Stephens assumed coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 target price on the stock. Finally, Rothschild & Co Redburn assumed coverage on SoFi Technologies in a research report on Friday, August 1st. They set a "neutral" rating and a $20.50 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average target price of $19.59.

SoFi Technologies Trading Up 1.7%

SoFi Technologies stock opened at $25.96 on Friday. The stock has a market cap of $31.09 billion, a P/E ratio of 54.08, a PEG ratio of 3.02 and a beta of 1.93. SoFi Technologies, Inc. has a fifty-two week low of $7.24 and a fifty-two week high of $26.85. The firm's fifty day moving average price is $22.89 and its 200-day moving average price is $16.52. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

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

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total value of $1,039,470.85. Following the transaction, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. This represents a 8.45% 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 10,578 shares of the 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 completion of the transaction, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 97,959 shares of company stock worth $1,653,646. 2.60% of the stock is owned by insiders.

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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