SoFi Technologies, Inc. $SOFI Stock Position Raised by River Street Advisors LLC

Key Points

• River Street Advisors LLC raised its position in SoFi Technologies by 14.6% in the second quarter, increasing its holdings to 77,032 shares worth approximately $1.4 million.
• Institutional investors, including Vanguard Group and Mitsubishi UFJ Asset Management, have also increased their stakes in SoFi, indicating strong institutional interest in the company.
• Analysts have mixed ratings for SoFi Technologies, with Needham & Company raising the price target from $25 to $29, while others maintain a more cautious approach with ratings ranging from "Strong Buy" to "Sell."

River Street Advisors LLC raised its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 14.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,032 shares of the company's stock after purchasing an additional 9,830 shares during the period. River Street Advisors LLC's holdings in SoFi Technologies were worth $1,403,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company's stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of SoFi Technologies by 2.5% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 6,472,726 shares of the company's stock worth $75,278,000 after purchasing an additional 159,109 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of SoFi Technologies by 58.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company's stock worth $50,467,000 after purchasing an additional 1,598,721 shares in the last quarter. Nuveen LLC purchased a new stake in shares of SoFi Technologies during the 1st quarter worth about $47,616,000. Finally, Bank of New York Mellon Corp raised its stake in shares of SoFi Technologies by 1.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,261,225 shares of the company's stock worth $37,928,000 after purchasing an additional 37,855 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the sale, the chief technology officer owned 759,553 shares of the company's stock, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,036 shares of the firm's stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.86, for a total value of $279,602.96. Following the completion of the sale, the executive vice president directly owned 285,410 shares in the company, valued at $7,951,522.60. This trade represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 129,614 shares of company stock worth $3,452,672 in the last ninety days. Insiders own 2.60% of the company's stock.

Wall Street Analyst Weigh In

SOFI has been the topic of a number of recent analyst reports. Needham & Company LLC raised their price objective on SoFi Technologies from $25.00 to $29.00 and gave the company a "buy" rating in a research note on Wednesday, September 10th. Barclays raised their price objective on SoFi Technologies from $18.00 to $21.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. JMP Securities reissued a "market perform" rating and issued a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. Keefe, Bruyette & Woods raised their price objective on SoFi Technologies from $13.00 to $14.00 and gave the company an "underperform" rating in a research note on Tuesday, August 5th. Finally, Mizuho raised their price objective on SoFi Technologies from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, SoFi Technologies has an average rating of "Hold" and a consensus price target of $20.18.

SoFi Technologies Stock Performance

SOFI opened at $25.97 on Friday. The firm has a market capitalization of $31.10 billion, a P/E ratio of 54.10, a price-to-earnings-growth ratio of 3.06 and a beta of 1.92. The stock's 50 day moving average price is $24.95 and its two-hundred day moving average price is $18.06. 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 12-month low of $7.65 and a 12-month high of $30.30.

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 for 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%.The company's revenue was up 42.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.

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