Sagespring Wealth Partners LLC Invests $189,000 in SoFi Technologies, Inc. $SOFI

Key Points

• Sagespring Wealth Partners LLC invested approximately $189,000 in SoFi Technologies by purchasing 10,366 shares during the second quarter.
• Multiple institutional investors have significantly increased their holdings in SoFi Technologies, with collective ownership by hedge funds reaching 38.43%.
• Brokerages have diverse ratings on SoFi Technologies, with an average rating of "Hold" and a target price of $20.71.

Sagespring Wealth Partners LLC purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,366 shares of the company's stock, valued at approximately $189,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. raised its holdings in 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 purchasing an additional 2,200 shares during the period. Headlands Technologies LLC bought a new position in SoFi Technologies in the 1st quarter worth $28,000. SVB Wealth LLC bought a new position in SoFi Technologies in the 1st quarter worth $28,000. Garde Capital Inc. bought a new position in SoFi Technologies in the 1st quarter worth $31,000. Finally, Larson Financial Group LLC raised its holdings in 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 purchasing an additional 1,519 shares during the period. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SOFI. TD Cowen began coverage on SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating and a $21.00 target price on the stock. The Goldman Sachs Group raised their target price on SoFi Technologies from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Morgan Stanley raised their target price on SoFi Technologies from $13.00 to $18.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. Mizuho raised their target price on SoFi Technologies from $26.00 to $31.00 and gave the stock an "outperform" rating in a report on Thursday, September 18th. Finally, Citizens Jmp cut SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $20.71.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $26.54 on Friday. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The business's 50-day simple moving average is $26.13 and its two-hundred day simple moving average is $19.21. The stock has a market cap of $31.78 billion, a PE ratio of 55.29, a P/E/G ratio of 3.15 and a beta of 1.92. SoFi Technologies, Inc. has a 52 week low of $8.60 and a 52 week high of $30.30.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS 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 return on equity of 4.44% and a net margin of 18.38%.The business's quarterly revenue was up 42.8% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, EVP Kelli Keough sold 10,578 shares of the firm's 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 owned 234,622 shares in the company, valued at $5,192,184.86. This trade represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction dated Thursday, September 18th. The shares were 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,347 shares of company stock valued at $3,228,852. 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.

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