Raymond James Financial Inc. Lowers Stake in SoFi Technologies, Inc. $SOFI

Raymond James Financial Inc. lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 34.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 619,902 shares of the company's stock after selling 320,266 shares during the quarter. Raymond James Financial Inc. owned about 0.06% of SoFi Technologies worth $7,209,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SOFI. Brighton Jones LLC lifted its stake in shares of SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after buying an additional 14,281 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of SoFi Technologies in the fourth quarter valued at about $204,000. AQR Capital Management LLC boosted its stake in shares of SoFi Technologies by 28.5% in the fourth quarter. AQR Capital Management LLC now owns 635,594 shares of the company's stock worth $9,788,000 after acquiring an additional 141,153 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of SoFi Technologies during the fourth quarter worth about $1,963,000. Finally, Mercer Global Advisors Inc. ADV raised its stake in SoFi Technologies by 17.3% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 172,984 shares of the company's stock valued at $2,664,000 after purchasing an additional 25,480 shares during the period. 38.43% of the stock is owned by institutional investors.

SoFi Technologies Trading Up 3.6%

NASDAQ:SOFI traded up $0.89 during midday trading on Thursday, hitting $25.38. 51,262,844 shares of the company traded hands, compared to its average volume of 61,253,039. The firm has a market capitalization of $30.39 billion, a P/E ratio of 52.88, a P/E/G ratio of 3.02 and a beta of 1.93. The firm's fifty day moving average is $21.93 and its 200-day moving average is $16.10. SoFi Technologies, Inc. has a 12-month low of $6.75 and a 12-month high of $26.60. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The business 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 revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. JMP Securities reiterated a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. Citigroup boosted 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. JPMorgan Chase & Co. increased their price target on SoFi Technologies from $22.00 to $24.00 and gave the company a "neutral" rating in a research note on Wednesday, August 20th. The Goldman Sachs Group began coverage on SoFi Technologies in a research note on Monday, July 14th. They issued a "neutral" rating and a $19.00 price objective on the stock. Finally, Keefe, Bruyette & Woods increased their target price on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research report on Tuesday, August 5th. One 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 issued a Sell rating to the company. According to MarketBeat, SoFi Technologies presently has an average rating of "Hold" and a consensus price target of $19.35.

Insider Buying and Selling at SoFi Technologies

In other news, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the transaction, the director owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This represents a 23.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Kelli Keough sold 10,578 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the sale, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 185,099 shares of company stock worth $2,907,591 over the last 90 days. Company insiders own 2.60% of the company's stock.

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.