SoFi Technologies, Inc. $SOFI Shares Sold by Amova Asset Management Americas Inc.

Key Points

• Amova Asset Management Americas Inc. cut its SoFi Technologies stake by 4.9% in the first quarter, selling 161,725 shares and leaving it with 3.14 million shares worth about $49.8 million.
• Several analysts recently trimmed their price targets on SOFI, and the stock now carries a consensus “Hold” rating with an average target price of $22.78.
• SoFi’s recent quarterly results were solid, with EPS of $0.12 matching estimates and revenue of $1.09 billion topping expectations, though insiders have also been selling shares in recent months.

Amova Asset Management Americas Inc. decreased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,136,479 shares of the company's stock after selling 161,725 shares during the quarter. Amova Asset Management Americas Inc. owned approximately 0.25% of SoFi Technologies worth $49,839,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of SoFi Technologies by 161.6% in the 4th quarter. SG Americas Securities LLC now owns 902,392 shares of the company's stock valued at $23,625,000 after purchasing an additional 557,390 shares in the last quarter. Vanguard Group Inc. increased its position in SoFi Technologies by 3.6% during the 4th quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company's stock worth $2,906,061,000 after purchasing an additional 3,900,895 shares in the last quarter. North Dakota State Investment Board purchased a new position in SoFi Technologies in the fourth quarter valued at approximately $1,044,000. Brighton Jones LLC lifted its position in SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after buying an additional 14,281 shares in the last quarter. Finally, Friedenthal Financial acquired a new position in SoFi Technologies during the fourth quarter valued at approximately $926,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SOFI shares. UBS Group dropped their price objective on shares of SoFi Technologies from $24.50 to $21.00 and set a "neutral" rating for the company in a research report on Thursday, April 30th. Stephens decreased their price target on shares of SoFi Technologies from $26.00 to $25.00 and set an "overweight" rating for the company in a research report on Thursday, April 30th. Argus began coverage on SoFi Technologies in a report on Wednesday, April 15th. They issued a "hold" rating for the company. Citigroup cut their price objective on SoFi Technologies from $37.00 to $30.00 and set a "buy" rating on the stock in a research report on Monday, May 4th. Finally, Barclays reduced their price objective on SoFi Technologies from $28.00 to $18.00 and set an "equal weight" rating on the stock in a research note on Monday, April 6th. Seven analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $22.78.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of the company's stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the transaction, the chief technology officer directly owned 895,089 shares of the company's stock, valued at $15,914,682.42. This represents a 10.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 10,954 shares of the stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $17.35, for a total value of $190,051.90. Following the transaction, the executive vice president owned 378,682 shares of the company's stock, valued at approximately $6,570,132.70. This trade represents a 2.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 124,302 shares of company stock worth $2,182,523 in the last three months. 2.50% of the stock is owned by insiders.

SoFi Technologies Price Performance

SOFI opened at $17.01 on Tuesday. SoFi Technologies, Inc. has a twelve month low of $14.92 and a twelve month high of $32.73. The firm has a market cap of $21.82 billion, a price-to-earnings ratio of 38.66 and a beta of 2.14. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The company has a fifty day simple moving average of $17.11 and a 200 day simple moving average of $19.04.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 EPS for the quarter, hitting analysts' consensus estimates of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business posted $0.06 EPS. The firm's revenue was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

SoFi Technologies Profile

SoFi Technologies, Inc NASDAQ: SOFI is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company's core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.

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