SoFi Technologies, Inc. $SOFI Shares Sold by Kestra Private Wealth Services LLC

Key Points

• Kestra Private Wealth Services cut its SoFi stake by 39.6% in the third quarter, selling 40,470 shares and retaining 61,830 shares valued at about $972,000.
• SoFi reported quarterly EPS of $0.18, topping the $0.17 consensus, while revenue of $1.37 billion exceeded estimates and rose 44.4% year over year.
• Analyst views remain mixed: MarketBeat’s consensus rating is Hold, with an average price target of $21.27.

Kestra Private Wealth Services LLC cut its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 39.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,830 shares of the company's stock after selling 40,470 shares during the period. Kestra Private Wealth Services LLC's holdings in SoFi Technologies were worth $972,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in SoFi Technologies during the second quarter valued at about $1,298,925,000. Bank of America Corp DE bought a new stake in shares of SoFi Technologies during the 2nd quarter worth about $163,808,000. Dimensional Fund Advisors LP increased its holdings in shares of SoFi Technologies by 4.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company's stock valued at $144,539,000 after acquiring an additional 359,785 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of SoFi Technologies by 2.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,689,426 shares of the company's stock valued at $90,348,000 after acquiring an additional 156,218 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of SoFi Technologies in the 2nd quarter valued at approximately $93,937,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Stock Performance

SOFI stock traded up $0.17 on Friday, reaching $16.21. 44,052,050 shares of the company were exchanged, compared to its average volume of 55,350,920. The firm has a market capitalization of $20.94 billion, a PE ratio of 29.47, a PEG ratio of 1.04 and a beta of 2.25. SoFi Technologies, Inc. has a 12 month low of $13.86 and a 12 month high of $32.73. The stock's fifty day moving average price is $16.35 and its 200 day moving average price is $17.65. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.01. SoFi Technologies had a net margin of 15.60% and a return on equity of 6.89%. The firm had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.25 billion. During the same period in the prior year, the firm earned $0.11 EPS. The business's revenue was up 44.4% on a year-over-year basis. On average, research analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Key Stories Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Analyst sentiment has improved: SoFi received a Zacks Rank #2 (Buy), and reports cited an analyst upgrade and potential upside of about 29% based on average price targets. Positive earnings-estimate revisions may also support the outlook. Zacks rating upgrade Analyst price targets
• Positive Sentiment: SoFi’s adjusted net revenue grew 44% in its latest reported quarter, and management raised its full-year guidance. These fundamentals offer support even though the stock has surrendered its post-earnings gains and remains well below its peak. SoFi growth and guidance
• Negative Sentiment: A crypto-led sell-off has weighed on retail-focused fintech shares, including SoFi, as Bitcoin fell and investors retreated from the sector. This broader market pressure may offset company-specific optimism in the near term. Fintech sell-off
• Negative Sentiment: One recent analysis warned that SoFi’s valuation remains steep, a potential risk if growth or earnings expectations disappoint. Valuation analysis

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,203 shares of the business's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $14.72, for a total value of $150,188.16. Following the sale, the executive vice president owned 397,870 shares of the company's stock, valued at $5,856,646.40. The trade was a 2.50% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the company's stock in a transaction dated Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the completion of the sale, the chief technology officer directly owned 912,650 shares in the company, valued at approximately $15,971,375. The trade was a 2.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 50,316 shares of company stock worth $852,605 in the last quarter. Corporate insiders own 2.50% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Weiss Ratings upgraded SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, October 21st. Wells Fargo & Company reiterated a "negative" rating on shares of SoFi Technologies in a report on Wednesday, October 28th. Loop Capital started coverage on shares of SoFi Technologies in a research report on Tuesday, September 8th. They issued a "hold" rating and a $22.00 price target on the stock. Benchmark restated a "sector outperform" rating on shares of SoFi Technologies in a research note on Wednesday, October 28th. Finally, Monness Crespi & Hardt began coverage on shares of SoFi Technologies in a report on Monday, October 26th. They set a "buy" rating and a $20.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $21.27.

About SoFi Technologies

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi's offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.

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