SoFi Technologies, Inc. $SOFI Shares Sold by Atria Wealth Solutions Inc.

Key Points

• Atria Wealth Solutions Inc. reduced its stake in SoFi Technologies by 62.0% during the 2nd quarter, now holding 77,302 shares valued at approximately $1.4 million.
• In recent insider trades, EVP Kelli Keough and CTO Jeremy Rishel sold a significant number of shares, decreasing their ownership by 4.31% and 11.50%, respectively.
• Analysts are bullish on SoFi, with Citigroup raising its target price to $28.00 and several firms giving the stock a mix of ratings, including one "Strong Buy."

Atria Wealth Solutions Inc. reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 62.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,302 shares of the company's stock after selling 126,202 shares during the period. Atria Wealth Solutions Inc.'s holdings in SoFi Technologies were worth $1,418,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SOFI. Hazlett Burt & Watson Inc. raised its holdings in shares of SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock valued at $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter valued at about $28,000. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter valued at about $28,000. Garde Capital Inc. purchased a new stake in shares of SoFi Technologies during the 1st quarter valued at about $31,000. Finally, Larson Financial Group LLC raised its holdings in shares of SoFi Technologies by 127.1% during the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock valued at $32,000 after buying an additional 1,519 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,578 shares of the company's stock in a transaction on Wednesday, August 20th. The stock was 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 directly owned 234,622 shares in the company, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 owned 759,553 shares of the company's stock, 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 have sold 119,347 shares of company stock valued at $3,228,852. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SOFI. Citigroup raised their target price 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 lifted their price objective on SoFi Technologies from $13.00 to $18.00 and gave the stock an "underweight" rating in a report on Monday, September 29th. JPMorgan Chase & Co. lifted their price objective on SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Needham & Company LLC lifted their price objective on SoFi Technologies from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Wednesday, September 10th. Finally, JMP Securities restated a "market perform" rating and set a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $20.71.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $26.60 on Friday. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month high of $30.30. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $31.85 billion, a price-to-earnings ratio of 55.42, a price-to-earnings-growth ratio of 3.33 and a beta of 1.92. The business has a 50 day simple moving average of $26.04 and a 200-day simple moving average of $19.06.

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

About SoFi Technologies

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.