Simplicity Wealth LLC Sells 208,595 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Simplicity Wealth LLC reduced its stake in SoFi Technologies by 91.0%, selling 208,595 shares, leaving it with 20,708 shares valued at approximately $377,000.
• Significant recent changes in institutional investments include USAdvisors Wealth Management increasing its stake by 4.5% and Wedmont Private Capital raising theirs by 4.3% during the second quarter.
• The stock has seen fluctuations in analyst ratings, with Citigroup increasing its target price to $28.00 and Morgan Stanley adjusting its target from $13.00 to $18.00.

Simplicity Wealth LLC trimmed its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 91.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,708 shares of the company's stock after selling 208,595 shares during the quarter. Simplicity Wealth LLC's holdings in SoFi Technologies were worth $377,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. USAdvisors Wealth Management LLC grew its stake in shares of SoFi Technologies by 4.5% during the second quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company's stock valued at $295,000 after buying an additional 700 shares during the last quarter. Wedmont Private Capital grew its stake in shares of SoFi Technologies by 4.3% during the second quarter. Wedmont Private Capital now owns 21,493 shares of the company's stock valued at $435,000 after buying an additional 879 shares during the last quarter. Vermillion & White Wealth Management Group LLC grew its stake in shares of SoFi Technologies by 16.7% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock valued at $81,000 after buying an additional 1,000 shares during the last quarter. Future Financial Wealth Managment LLC grew its stake in shares of SoFi Technologies by 7.4% during the second quarter. Future Financial Wealth Managment LLC now owns 14,500 shares of the company's stock valued at $264,000 after buying an additional 1,000 shares during the last quarter. Finally, Arkadios Wealth Advisors grew its stake in shares of SoFi Technologies by 1.8% during the first quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock valued at $737,000 after buying an additional 1,092 shares during the last quarter. 38.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on SOFI. TD Cowen began coverage on SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 target price on the stock. Citigroup boosted their price target on SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. Morgan Stanley boosted their price target on SoFi Technologies from $13.00 to $18.00 and gave the company an "underweight" rating in a report on Monday, September 29th. Mizuho boosted their price target on SoFi Technologies from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Finally, Rothschild & Co Redburn began coverage on SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $20.18.

SoFi Technologies Stock Down 0.4%

SoFi Technologies stock opened at $28.02 on Thursday. The business has a fifty day moving average of $25.37 and a two-hundred day moving average of $18.46. 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 firm has a market cap of $33.55 billion, a P/E ratio of 58.38, a P/E/G ratio of 3.34 and a beta of 1.92. SoFi Technologies, Inc. has a twelve month low of $8.30 and a twelve month high of $30.30.

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

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 10,036 shares of the company's stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.86, for a total transaction of $279,602.96. Following the transaction, the executive vice president directly owned 285,410 shares of the company's stock, valued at approximately $7,951,522.60. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the company's stock in a transaction on 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 directly owned 759,553 shares in the company, 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. In the last 90 days, insiders have sold 129,614 shares of company stock valued at $3,452,672. 2.60% of the stock is owned by company insiders.

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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