SoFi Technologies, Inc. $SOFI Shares Bought by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its stake in SoFi Technologies by 118.5% in Q2, acquiring a total of 4,424,155 shares valued at approximately $80.6 million.
• Recent analysis updates show varied price targets for SoFi Technologies, with Keefe, Bruyette & Woods setting theirs at $18 and Mizuho at $31, reflecting a consensus rating of "Hold" with an average price target of $20.71.
• Insider transactions reported significant stock sales by executives, including a notable sale by EVP Kelli Keough of 10,578 shares and CTO Jeremy Rishel of 98,733 shares.

ARK Investment Management LLC lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 118.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,424,155 shares of the company's stock after acquiring an additional 2,399,746 shares during the period. ARK Investment Management LLC owned approximately 0.40% of SoFi Technologies worth $80,564,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. increased its position in shares of SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after acquiring an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies in the first quarter worth $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies in the first quarter worth $28,000. Larson Financial Group LLC increased its position in shares of SoFi Technologies by 127.1% in the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after acquiring an additional 1,519 shares in the last quarter. Finally, MCF Advisors LLC increased its position in shares of SoFi Technologies by 119.3% in the first quarter. MCF Advisors LLC now owns 3,072 shares of the company's stock worth $36,000 after acquiring an additional 1,671 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SOFI shares. Keefe, Bruyette & Woods increased their price objective on shares of SoFi Technologies from $14.00 to $18.00 and gave the stock an "underperform" rating in a research report on Wednesday, October 15th. Mizuho raised their price target on shares of SoFi Technologies from $26.00 to $31.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Truist Financial set a $23.00 price target on shares of SoFi Technologies in a report on Monday, August 4th. The Goldman Sachs Group raised their price target on shares of SoFi Technologies from $21.00 to $24.00 and gave the company a "neutral" rating in a report on Monday, October 13th. Finally, Citigroup raised their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, six have issued 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 company has an average rating of "Hold" and an average price target of $20.71.

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 shares were sold at an average price of $22.13, for a total value of $234,091.14. Following 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer 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. Over the last 90 days, insiders sold 119,347 shares of company stock worth $3,228,852. Insiders own 2.60% of the company's stock.

SoFi Technologies Trading Up 0.2%

NASDAQ SOFI opened at $28.75 on Wednesday. The company's fifty day moving average price is $26.36 and its two-hundred day moving average price is $19.47. 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, Inc. has a 12 month low of $8.60 and a 12 month high of $30.30. The company has a market capitalization of $34.43 billion, a price-to-earnings ratio of 59.90, a price-to-earnings-growth ratio of 3.41 and a beta of 1.92.

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

SoFi Technologies 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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