SoFi Technologies, Inc. $SOFI Shares Sold by Clarity Capital Partners LLC

Key Points

• Clarity Capital Partners LLC reduced its stake in SoFi Technologies by 7.2%, selling 28,874 shares in the second quarter, which now constitutes about 2.4% of their total holdings.
• Several institutional investors, including Vanguard Group, increased their holdings in SoFi during the first quarter, highlighting ongoing interest from major players in the company's stock.
• SoFi Technologies reported a net margin of 18.38% and a 42.8% revenue increase year-over-year, with earnings exceeding analysts' expectations in its latest quarterly results.

Clarity Capital Partners LLC lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 374,093 shares of the company's stock after selling 28,874 shares during the quarter. SoFi Technologies comprises about 2.4% of Clarity Capital Partners LLC's holdings, making the stock its 9th largest position. Clarity Capital Partners LLC's holdings in SoFi Technologies were worth $6,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares during the period. CMG Global Holdings LLC grew its holdings in shares of SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company's stock worth $1,728,000 after purchasing an additional 61,443 shares during the period. Sullivan Wood Capital Management LLC purchased a new stake in shares of SoFi Technologies during the 2nd quarter worth about $2,799,000. Nicholas Wealth LLC. purchased a new stake in shares of SoFi Technologies during the 1st quarter worth about $993,000. Finally, Quantitative Investment Management LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter worth about $2,862,000. Hedge funds and other institutional investors own 38.43% of the company's stock.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the 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 sale, the chief technology officer directly owned 759,553 shares of the company's stock, valued at $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Kelli Keough sold 10,036 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.86, for a total value of $279,602.96. Following the completion of the sale, the executive vice president directly owned 285,410 shares in the company, valued at $7,951,522.60. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,614 shares of company stock worth $3,452,672 over the last ninety days. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Stock Performance

SOFI stock opened at $25.24 on Friday. 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 firm has a market cap of $30.22 billion, a P/E ratio of 52.58, a P/E/G ratio of 3.09 and a beta of 1.92. SoFi Technologies, Inc. has a 12-month low of $7.90 and a 12-month high of $30.30. The stock's 50 day simple moving average is $25.03 and its 200 day simple moving average is $18.15.

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, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business's revenue was up 42.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SOFI shares. Rothschild & Co Redburn started coverage on SoFi Technologies in a report on Friday, August 1st. They set a "neutral" rating and a $20.50 target price for the company. The Goldman Sachs Group started coverage on SoFi Technologies in a report on Monday, July 14th. They set a "neutral" rating and a $19.00 target price for the company. Keefe, Bruyette & Woods upped their price target on SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a report on Tuesday, August 5th. Barclays upped their price target on SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, JMP Securities restated a "market perform" rating and issued a $17.00 price target on shares of SoFi Technologies in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $20.18.

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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