SoFi Technologies, Inc. $SOFI Shares Purchased by CMG Global Holdings LLC

Key Points

• CMG Global Holdings LLC has increased its stake in SoFi Technologies by 51.7% in Q2, now holding 213,026 shares valued at approximately $3.88 million.
• SoFi reported Q2 earnings of $0.08 per share, exceeding the analysts’ estimate of $0.06, with revenue reaching $519.37 million, though below the expected $801.94 million.
• Institutional investors collectively own 38.43% of SoFi's stock, with significant contributions from Vanguard Group and Blair William & Co. increasing their stakes recently.

CMG Global Holdings LLC increased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 51.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,026 shares of the company's stock after acquiring an additional 72,637 shares during the quarter. SoFi Technologies makes up approximately 2.1% of CMG Global Holdings LLC's holdings, making the stock its 13th biggest holding. CMG Global Holdings LLC's holdings in SoFi Technologies were worth $3,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after acquiring an additional 1,130,250 shares during the period. Sullivan Wood Capital Management LLC acquired a new stake in shares of SoFi Technologies in the 2nd quarter worth about $2,799,000. Blair William & Co. IL increased its holdings in shares of SoFi Technologies by 443.9% in the 2nd quarter. Blair William & Co. IL now owns 335,698 shares of the company's stock worth $6,113,000 after acquiring an additional 273,972 shares during the period. Nicholas Wealth LLC. acquired a new stake in shares of SoFi Technologies in the 1st quarter worth about $993,000. Finally, Quantitative Investment Management LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth about $2,862,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Activity

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 transaction of $234,091.14. Following the completion of the transaction, the executive vice president 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 document filed with the SEC, which is accessible through this link. 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 transaction 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. This trade represents 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. Insiders own 2.60% of the company's stock.

SoFi Technologies Stock Performance

Shares of SOFI opened at $26.54 on Monday. The firm has a 50-day moving average price of $26.13 and a 200 day moving average price of $19.27. The firm has a market capitalization of $31.78 billion, a PE ratio of 55.29, a P/E/G ratio of 3.15 and a beta of 1.92. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. 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 announced its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies's revenue was up 42.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on SOFI. Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating on the stock. Citigroup increased their price objective on shares of SoFi Technologies from $18.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, August 20th. The Goldman Sachs Group increased their price objective on shares of SoFi Technologies from $21.00 to $24.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Morgan Stanley increased their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. Finally, Keefe, Bruyette & Woods increased their target price on shares of SoFi Technologies from $14.00 to $18.00 and gave the company an "underperform" rating in a research report on Wednesday, October 15th. One investment 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 assigned a Sell rating to the company. According to data from MarketBeat.com, SoFi Technologies has a consensus rating of "Hold" and a consensus target price of $20.71.

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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