SoFi Technologies, Inc. $SOFI Shares Sold by Northwestern Mutual Wealth Management Co.

Key Points

• Northwestern Mutual Wealth Management Co. reduced its holdings in SoFi Technologies by 27.7%, selling 52,729 shares, bringing their total ownership to approximately $1.6 million.
• SoFi Technologies reported $0.08 earnings per share, which beat analysts' expectations of $0.06, despite revenues coming in lower than expected at $519.37 million.
• Institutional investors and hedge funds collectively own 38.43% of SoFi Technologies' stock, with several firms adjusting their stakes significantly during the first quarter.

Northwestern Mutual Wealth Management Co. decreased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 27.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 137,510 shares of the company's stock after selling 52,729 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in SoFi Technologies were worth $1,599,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. increased its position in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after buying an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in SoFi Technologies during the first quarter worth approximately $28,000. Garde Capital Inc. acquired a new position in SoFi Technologies during the first quarter worth approximately $31,000. Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies during the fourth quarter worth approximately $32,000. Finally, Larson Financial Group LLC increased its position in SoFi Technologies by 127.1% during the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company's stock worth $32,000 after buying an additional 1,519 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

SoFi Technologies Stock Down 1.9%

SoFi Technologies stock opened at $25.54 on Friday. 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 1-year low of $6.75 and a 1-year high of $26.60. The company has a market cap of $30.58 billion, a PE ratio of 53.21, a price-to-earnings-growth ratio of 3.15 and a beta of 1.93. The stock's 50 day moving average price is $21.38 and its 200 day moving average price is $15.91.

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 for the quarter, beating analysts' consensus estimates of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. During the same period in the previous year, the business earned $0.01 earnings per share. The company's revenue for the quarter 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. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction that occurred 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 sale, the executive vice president directly owned 234,622 shares in the company, valued at $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The transaction 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 SoFi Technologies stock in a transaction that occurred on Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the sale, the chief technology officer owned 724,321 shares in the company, 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 a total of 272,239 shares of company stock worth $4,123,194 over the last three months. 2.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on the company. JPMorgan Chase & Co. lifted their price target on SoFi Technologies from $22.00 to $24.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 20th. Needham & Company LLC boosted their target price on SoFi Technologies from $20.00 to $25.00 and gave the company a "buy" rating in a report on Wednesday, July 30th. Cowen initiated coverage on SoFi Technologies in a report on Friday, July 11th. They issued a "hold" rating on the stock. JMP Securities reissued a "market perform" rating and issued a $17.00 target price on shares of SoFi Technologies in a report on Monday, July 14th. Finally, Mizuho set a $26.00 target price on SoFi Technologies and gave the company an "outperform" rating in a report on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, SoFi Technologies presently has an average rating of "Hold" and an average target price of $19.35.

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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