Pallas Capital Advisors LLC Has $261,000 Stake in SoFi Technologies, Inc. $SOFI

Key Points

• Pallas Capital Advisors LLC reduced its stake in SoFi Technologies by 47.3%, now holding 14,347 shares valued at approximately $261,000.
• SoFi reported earnings of $0.08 per share for the last quarter, exceeding estimates and showing a 42.8% year-over-year revenue growth.
• Analysts have set varied price targets for SoFi stock, with Citigroup raising its target from $18.00 to $28.00, reflecting overall optimism in the company's future performance.

Pallas Capital Advisors LLC trimmed its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 47.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,347 shares of the company's stock after selling 12,894 shares during the quarter. Pallas Capital Advisors LLC's holdings in SoFi Technologies were worth $261,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

SoFi Technologies Stock Up 1.0%

Shares of SoFi Technologies stock opened at $29.81 on Tuesday. SoFi Technologies, Inc. has a 1 year low of $7.57 and a 1 year high of $30.30. The business has a 50-day moving average of $23.99 and a two-hundred day moving average of $17.27. The company has a market capitalization of $35.70 billion, a P/E ratio of 62.10, a price-to-earnings-growth ratio of 3.51 and a beta of 1.93. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup boosted their price objective on SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, August 20th. TD Cowen assumed coverage on SoFi Technologies in a research report on Friday, July 11th. They issued a "hold" rating and a $21.00 price target on the stock. Rothschild & Co Redburn assumed coverage on SoFi Technologies in a report on Friday, August 1st. They set a "neutral" rating and a $20.50 target price on the stock. Truist Financial set a $23.00 target price on SoFi Technologies in a report on Monday, August 4th. Finally, Redburn Atlantic upgraded SoFi Technologies to a "hold" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $19.88.

Insider Transactions at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction 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 trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a 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 dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer owned 759,553 shares of the company's stock, valued at approximately $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. Over the last quarter, insiders have sold 129,614 shares of company stock valued at $3,452,672. 2.60% of the stock is owned by corporate 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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