SoFi Technologies, Inc. $SOFI Shares Sold by AXQ Capital LP

Key Points

• AXQ Capital LP cut its SoFi Technologies stake by 79.8% in the second quarter, selling 73,394 shares and retaining 18,628 shares valued at approximately $334,000. Institutional investors and hedge funds collectively own 38.43% of SoFi.
• SoFi insiders sold 136,505 shares worth about $2.42 million over the past 90 days. The reported sales by executives were conducted under pre-arranged Rule 10b5-1 plans, including shares sold to cover tax obligations.
• SoFi exceeded quarterly expectations with $0.12 EPS versus the $0.11 consensus and revenue of $1.21 billion, up 42.5% year over year. Analysts maintain a consensus “Hold” rating with an average price target of $22.52, compared with the stock’s opening price of $18.01.

AXQ Capital LP reduced its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 79.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,628 shares of the company's stock after selling 73,394 shares during the quarter. AXQ Capital LP's holdings in SoFi Technologies were worth $334,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Valley Wealth Managers Inc. bought a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $25,000. Vermillion Wealth Management Inc. boosted its holdings in SoFi Technologies by 283.1% during the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company's stock valued at $26,000 after acquiring an additional 739 shares during the period. Reflection Asset Management acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC increased its stake in shares of SoFi Technologies by 232.1% in the first quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company's stock worth $34,000 after purchasing an additional 1,467 shares during the period. Finally, Compass Financial Management LLC bought a new position in shares of SoFi Technologies in the second quarter worth about $34,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other SoFi Technologies news, EVP Kelli Keough sold 11,286 shares of the business's stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares of the company's stock, valued at approximately $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders have sold a total of 136,505 shares of company stock worth $2,418,096 over the last ninety days. Company insiders own 2.50% of the company's stock.

SoFi Technologies Price Performance

SoFi Technologies stock opened at $18.01 on Wednesday. The company has a market capitalization of $23.26 billion, a price-to-earnings ratio of 37.52, a PEG ratio of 1.50 and a beta of 2.20. The company has a current ratio of 0.74, a quick ratio of 0.10 and a debt-to-equity ratio of 0.30. SoFi Technologies, Inc. has a 12 month low of $14.88 and a 12 month high of $32.73. The stock's 50 day moving average is $17.89 and its 200-day moving average is $17.44.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company posted $0.08 EPS. The firm's quarterly revenue was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on SOFI shares. Weiss Ratings upgraded SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 11th. Mizuho dropped their price target on SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating on the stock in a research report on Friday, July 31st. Piper Sandler started coverage on SoFi Technologies in a report on Monday, August 17th. They set an "overweight" rating and a $22.00 price target for the company. The Goldman Sachs Group increased their price objective on SoFi Technologies from $17.00 to $21.00 and gave the company a "neutral" rating in a research report on Thursday, July 9th. Finally, Loop Capital began coverage on shares of SoFi Technologies in a report on Tuesday. They set a "hold" rating and a $22.00 price objective on the stock. Nine investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $22.52.

About SoFi Technologies

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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