Vident Advisory LLC Purchases 12,332 Shares of SoFi Technologies, Inc. $SOFI

Key Points

• Vident Advisory LLC significantly increased its stake in SoFi Technologies, Inc. by 95.9% in Q1, holding a total of 25,191 shares valued at $293,000.
• SoFi Technologies reported a 42.8% year-over-year revenue increase, posting $519.37 million in revenue for the last quarter, outpacing the consensus estimate.
• Insider selling was observed, with CTO Jeremy Rishel selling 66,847 shares for a total of $1,039,470, reducing his position by 8.45%.

Vident Advisory LLC increased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 95.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,191 shares of the company's stock after purchasing an additional 12,332 shares during the quarter. Vident Advisory LLC's holdings in SoFi Technologies were worth $293,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. lifted its holdings in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies in the 1st quarter valued at $28,000. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies in the first quarter worth about $28,000. Garde Capital Inc. purchased a new stake in shares of SoFi Technologies during the first quarter worth about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in shares of SoFi Technologies during the 4th quarter worth approximately $32,000. 38.43% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Keefe, Bruyette & Woods raised their target price 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. TD Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a "hold" rating and a $21.00 price objective on the stock. The Goldman Sachs Group initiated coverage on shares of SoFi Technologies in a research note on Monday, July 14th. They set a "neutral" rating and a $19.00 price objective on the stock. Cowen initiated coverage on shares of SoFi Technologies in a report on Friday, July 11th. They set a "hold" rating on the stock. Finally, Morgan Stanley reissued an "underweight" rating and set a $13.00 target price (up from $11.00) on shares of SoFi Technologies in a report on Wednesday, July 30th. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $19.35.

SoFi Technologies Stock Performance

SOFI traded up $0.01 during trading on Tuesday, hitting $25.97. The stock had a trading volume of 48,850,264 shares, compared to its average volume of 64,518,132. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. The firm has a market cap of $31.10 billion, a PE ratio of 54.10, a P/E/G ratio of 3.07 and a beta of 1.93. The company has a 50 day simple moving average of $22.60 and a 200-day simple moving average of $16.38. SoFi Technologies, Inc. has a 12 month low of $6.75 and a 12 month high of $26.60.

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 (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The business's quarterly revenue was up 42.8% on a year-over-year basis. During the same period last year, the business posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the business's 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 transaction, the executive vice president owned 234,622 shares of the company's stock, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Jeremy Rishel sold 66,847 shares of the firm'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 completion of the sale, the chief technology officer owned 724,321 shares of the company's stock, valued at $11,263,191.55. The trade was a 8.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,959 shares of company stock valued at $1,653,646 over the last ninety days. 2.60% of the stock is owned by insiders.

SoFi Technologies Company 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.