Hobbs Group Advisors LLC Reduces Stock Holdings in SoFi Technologies, Inc. $SOFI

Key Points

• Hobbs Group Advisors LLC reduced its stake in SoFi Technologies by 68.7%, selling over 33,000 shares, leaving it with approximately 15,339 shares valued at about $178,000.
• Several institutional investors, including Hazlett Burt & Watson Inc., significantly increased their holdings, with some even growing their positions by as much as 2,200%.
• SoFi has a consensus rating of "Hold" from analysts, with price targets ranging between $17.00 and $25.00, while the stock currently trades at around $23.33.

Hobbs Group Advisors LLC cut its position in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 68.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,339 shares of the company's stock after selling 33,661 shares during the quarter. Hobbs Group Advisors LLC's holdings in SoFi Technologies were worth $178,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SOFI. Brighton Jones LLC increased its holdings in SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock worth $11,077,000 after acquiring an additional 14,281 shares during the last quarter. First Trust Advisors LP increased its stake in shares of SoFi Technologies by 583.6% in the fourth quarter. First Trust Advisors LP now owns 2,686,667 shares of the company's stock worth $41,375,000 after purchasing an additional 2,293,622 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in shares of SoFi Technologies by 133.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 19,643 shares of the company's stock worth $303,000 after purchasing an additional 11,212 shares in the last quarter. Hsbc Holdings PLC bought a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $204,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of SoFi Technologies by 2.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,518,141 shares of the company's stock valued at $23,380,000 after buying an additional 41,248 shares in the last quarter. Institutional investors own 38.43% of the company's stock.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares of the company's stock, valued at $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Jeremy Rishel sold 66,847 shares of the company's stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer directly owned 724,321 shares of the company's stock, valued at approximately $11,263,191.55. This trade represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 272,239 shares of company stock valued at $4,123,194 in the last ninety days. Company insiders own 2.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on SOFI shares. TD Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a "hold" rating and a $21.00 price objective for the company. JMP Securities reissued a "market perform" rating and set a $17.00 price objective on shares of SoFi Technologies in a report on Monday, July 14th. Rothschild & Co Redburn began coverage on SoFi Technologies in a research note on Friday, August 1st. They issued a "neutral" rating and a $20.50 target price for the company. Citigroup upped their price target on SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday. Finally, Mizuho set a $26.00 price target on shares of SoFi Technologies and gave the stock an "outperform" rating in a report on Thursday, July 31st. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $19.35.

SoFi Technologies Price Performance

Shares of SOFI stock traded up $1.69 during trading on Friday, hitting $25.02. The company had a trading volume of 101,141,610 shares, compared to its average volume of 76,319,624. The stock's 50-day moving average is $20.32 and its two-hundred day moving average is $15.54. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of 52.13, a price-to-earnings-growth ratio of 3.10 and a beta of 1.93. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a 52 week low of $6.75 and a 52 week high of $25.25.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (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 analysts' expectations of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The company's revenue for the quarter was up 42.8% compared to the same quarter last year. 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, analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal 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.