Jump Financial LLC Decreases Holdings in SoFi Technologies, Inc. $SOFI

Key Points

• Jump Financial LLC has significantly reduced its holdings in SoFi Technologies by 77.2%, selling 661,988 shares in the first quarter and now owning 195,727 shares worth approximately $2.28 million.
• Insider transactions revealed that Director Magdalena Yesil and EVP Kelli Keough sold a combined 97,718 shares, indicating a cautious sentiment among company executives regarding their ownership in SoFi.
• SoFi Technologies reported a 42.8% increase in revenue year-over-year during the last quarter, with earnings per share of $0.08, surpassing analyst estimates, though revenues fell short of expectations.

Jump Financial LLC lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 77.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 195,727 shares of the company's stock after selling 661,988 shares during the quarter. Jump Financial LLC's holdings in SoFi Technologies were worth $2,276,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SOFI. Brighton Jones LLC increased its holdings in shares of SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company's stock valued at $11,077,000 after purchasing an additional 14,281 shares during the last quarter. Tower Research Capital LLC TRC increased its holdings 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 valued at $303,000 after purchasing an additional 11,212 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at approximately $204,000. Price T Rowe Associates Inc. MD increased its holdings in shares of SoFi Technologies by 2.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,518,141 shares of the company's stock valued at $23,380,000 after purchasing an additional 41,248 shares during the last quarter. Finally, Integrated Wealth Concepts LLC increased its holdings in shares of SoFi Technologies by 150.9% in the fourth quarter. Integrated Wealth Concepts LLC now owns 86,488 shares of the company's stock valued at $1,332,000 after purchasing an additional 52,021 shares during the last quarter. Institutional investors and hedge funds own 38.43% of the company's stock.

Analyst Ratings Changes

Several research firms have issued reports on SOFI. JPMorgan Chase & Co. raised their target price on SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 20th. Citizens Jmp cut SoFi Technologies from a "strong-buy" rating to a "market perform" rating in a research note on Monday, July 14th. Rothschild & Co Redburn began coverage on SoFi Technologies in a research note on Friday, August 1st. They set a "neutral" rating and a $20.50 target price for the company. Morgan Stanley reissued an "underweight" rating and set a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Finally, Needham & Company LLC raised their target price on SoFi Technologies from $20.00 to $25.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One equities research 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 given a Sell rating to the company's stock. Based on data from MarketBeat, SoFi Technologies currently has a consensus rating of "Hold" and an average target price of $19.35.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the transaction, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 completion of the transaction, the director owned 289,258 shares of the company's stock, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 272,239 shares of company stock worth $4,123,194. Company insiders own 2.60% of the company's stock.

SoFi Technologies Trading Down 1.9%

Shares of SOFI traded down $0.50 during midday trading on Friday, hitting $25.54. 54,281,310 shares of the stock were exchanged, compared to its average volume of 64,654,440. The firm has a market cap of $30.58 billion, a P/E ratio of 53.21, a P/E/G ratio of 3.02 and a beta of 1.93. The stock has a fifty day simple moving average of $21.38 and a 200 day simple moving average of $15.92. SoFi Technologies, Inc. has a 52-week low of $6.75 and a 52-week high of $26.60. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during 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%.SoFi Technologies's revenue was up 42.8% compared to the same quarter last year. During the same period last year, the business posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, research analysts anticipate 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.