Freestone Capital Holdings LLC Sells 16,758 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Freestone Capital Holdings LLC reduced its stake in SoFi Technologies, Inc. by 35.9% during the first quarter, now holding 29,961 shares valued at approximately $348,000.
• Institutional investors own 38.43% of SoFi's stock, with notable transactions from firms like Vanguard Group and CMG Global Holdings increasing their positions.
• SoFi reported a 42.8% year-over-year revenue increase for the last quarter, with earnings surpassing analysts' expectations despite revenue falling short of projections.

Freestone Capital Holdings LLC decreased its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 35.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,961 shares of the company's stock after selling 16,758 shares during the quarter. Freestone Capital Holdings LLC's holdings in SoFi Technologies were worth $348,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after buying an additional 1,130,250 shares during the last quarter. CMG Global Holdings LLC grew its position in 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 in the last quarter. Nicholas Wealth LLC. purchased a new position in SoFi Technologies during the 1st quarter worth approximately $993,000. Sierra Summit Advisors LLC purchased a new position in SoFi Technologies during the 1st quarter worth approximately $9,715,000. Finally, NorthRock Partners LLC purchased a new position in SoFi Technologies during the 1st quarter worth approximately $172,000. Institutional investors and hedge funds own 38.43% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SOFI shares. Stephens started coverage on shares of SoFi Technologies in a research report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective on the stock. Citizens Jmp cut shares of SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research report on Monday, July 14th. The Goldman Sachs Group started coverage on shares of SoFi Technologies in a research report on Monday, July 14th. They set a "neutral" rating and a $19.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of SoFi Technologies from $13.00 to $14.00 and gave the stock an "underperform" rating in a research report on Tuesday, August 5th. Finally, Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given 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, SoFi Technologies presently has an average rating of "Hold" and a consensus target price of $18.29.

Insider Buying and Selling

In related news, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the transaction, the director owned 289,258 shares in the company, valued at $4,162,422.62. This trade represents a 23.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the completion of the transaction, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This trade represents a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 261,661 shares of company stock worth $3,889,103 in the last quarter. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Down 6.1%

Shares of SOFI stock traded down $1.48 on Tuesday, hitting $22.75. The company's stock had a trading volume of 82,031,350 shares, compared to its average volume of 73,098,912. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies, Inc. has a fifty-two week low of $6.75 and a fifty-two week high of $25.11. The firm's fifty day moving average price is $19.78 and its 200-day moving average price is $15.36. The stock has a market capitalization of $27.24 billion, a price-to-earnings ratio of 47.40, a P/E/G ratio of 3.00 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data 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. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The business had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same quarter in the previous year, the business earned $0.01 EPS. SoFi Technologies's quarterly revenue was up 42.8% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS 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.