SoFi Technologies, Inc. $SOFI Position Increased by Asset One Wealth Management LLC

Key Points

• Asset One Wealth Management increased its SoFi stake by 211.1% in the third quarter, ending the period with 54,322 shares valued at about $854,000.
• SoFi reported quarterly revenue of $1.37 billion, up 44.4% year over year, and EPS of $0.18, slightly above analyst estimates.
• Analysts’ average rating is Hold, with an average price target of $21.27. Insiders also sold 50,316 shares worth about $852,605 over the past 90 days, through pre-arranged trading plans.

Asset One Wealth Management LLC grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 211.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,322 shares of the company's stock after buying an additional 36,860 shares during the period. Asset One Wealth Management LLC's holdings in SoFi Technologies were worth $854,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SOFI. Cornerstone Planning Group LLC raised its position in shares of SoFi Technologies by 232.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company's stock valued at $34,000 after acquiring an additional 1,467 shares in the last quarter. Compass Financial Management LLC bought a new position in SoFi Technologies during the second quarter worth $34,000. MassMutual Private Wealth & Trust FSB boosted its holdings in SoFi Technologies by 44.2% in the third quarter. MassMutual Private Wealth & Trust FSB now owns 2,248 shares of the company's stock worth $35,000 after purchasing an additional 689 shares during the period. Markowski Investments acquired a new position in SoFi Technologies in the second quarter worth $38,000. Finally, Ascentis Independent Advisors bought a new stake in SoFi Technologies during the first quarter valued at $40,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,203 shares of the firm's stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $14.72, for a total value of $150,188.16. Following the sale, the executive vice president directly owned 397,870 shares in the company, valued at $5,856,646.40. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the firm's stock in a transaction on Monday, September 21st. The shares were sold at an average price of $17.50, for a total value of $325,920.00. Following the transaction, the chief technology officer directly owned 912,650 shares in the company, valued at $15,971,375. This trade represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 50,316 shares of company stock worth $852,605. 2.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Piper Sandler began coverage on shares of SoFi Technologies in a report on Monday, August 17th. They set an "overweight" rating and a $22.00 target price on the stock. Scotiabank restated a "sector outperform" rating and issued a $26.00 price target (up from $25.00) on shares of SoFi Technologies in a research report on Wednesday, October 28th. TD Cowen lifted their price target on shares of SoFi Technologies from $17.50 to $18.00 and gave the company a "hold" rating in a report on Wednesday, October 28th. Truist Financial lifted their price target on shares of SoFi Technologies from $16.00 to $17.00 and gave the company a "hold" rating in a report on Tuesday, November 3rd. Finally, Bank of America reaffirmed an "underperform" rating and set a $16.50 price objective on shares of SoFi Technologies in a research report on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and an average target price of $21.27.

Key SoFi Technologies News

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Analyst sentiment has improved: SoFi received a Zacks Rank #2 (Buy), and reports cited an analyst upgrade and potential upside of about 29% based on average price targets. Positive earnings-estimate revisions may also support the outlook. Zacks rating upgrade Analyst price targets
• Positive Sentiment: SoFi’s adjusted net revenue grew 44% in its latest reported quarter, and management raised its full-year guidance. These fundamentals offer support even though the stock has surrendered its post-earnings gains and remains well below its peak. SoFi growth and guidance
• Negative Sentiment: A crypto-led sell-off has weighed on retail-focused fintech shares, including SoFi, as Bitcoin fell and investors retreated from the sector. This broader market pressure may offset company-specific optimism in the near term. Fintech sell-off
• Negative Sentiment: One recent analysis warned that SoFi’s valuation remains steep, a potential risk if growth or earnings expectations disappoint. Valuation analysis

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $16.21 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The firm has a market capitalization of $20.94 billion, a PE ratio of 29.47, a P/E/G ratio of 1.01 and a beta of 2.25. SoFi Technologies, Inc. has a 1-year low of $13.86 and a 1-year high of $32.73. The business's fifty day moving average price is $16.35 and its two-hundred day moving average price is $17.65.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.25 billion. SoFi Technologies had a net margin of 15.60% and a return on equity of 6.89%. The company's revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. On average, research analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

SoFi Technologies Profile

SoFi Technologies, Inc is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings.

Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.

SoFi primarily serves consumers in the United States.

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