SoFi Technologies, Inc. $SOFI Stock Purchased by Commonwealth Equity Services LLC

Key Points

• Commonwealth Equity Services increased its SoFi stake by 12.3% in the third quarter, adding 65,509 shares to bring its holdings to 596,720 shares, valued at about $9.38 million.
• Analyst views are mixed: the consensus rating is Hold, with a $21.27 average price target; ratings range from Strong Buy to Sell.
• SoFi reported quarterly EPS of $0.18, topping estimates of $0.17, while revenue rose 44.4% year over year to $1.37 billion.

Commonwealth Equity Services LLC grew its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 12.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 596,720 shares of the company's stock after acquiring an additional 65,509 shares during the quarter. Commonwealth Equity Services LLC's holdings in SoFi Technologies were worth $9,380,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in SoFi Technologies in the second quarter valued at approximately $1,298,925,000. Bank of America Corp DE bought a new stake in SoFi Technologies in the 2nd quarter valued at $163,808,000. Dimensional Fund Advisors LP lifted its position in SoFi Technologies by 4.1% in 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in SoFi Technologies in the 2nd quarter worth $93,937,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in SoFi Technologies by 4.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,925,068 shares of the company's stock worth $88,306,000 after purchasing an additional 198,336 shares during the period. 38.43% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on SOFI shares. Stonex Financial upgraded SoFi Technologies to a "strong-buy" rating in a report on Monday, October 12th. Mizuho reduced their price objective on SoFi Technologies from $29.00 to $22.00 and set an "outperform" rating for the company in a research report on Friday, July 31st. Weiss Ratings upgraded SoFi Technologies from a "hold (c-)" rating to a "hold (c)" rating in a report on Wednesday, October 21st. Truist Financial lifted their target price on SoFi Technologies from $16.00 to $17.00 and gave the company a "hold" rating in a research report on Tuesday, November 3rd. Finally, Wells Fargo & Company restated a "negative" rating on shares of SoFi Technologies in a research note on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $21.27.

Key Stories Impacting SoFi Technologies

Here are a few of the latest stories about SOFI:

• Positive Sentiment: SoFiUSD, the bank-issued stablecoin, is now available on Polygon in addition to Ethereum and Solana. The wider blockchain availability could expand payment use and strengthen SoFi’s digital-finance offering. Article: SoFi Brings Its Bank-Issued Stablecoin to Polygon
• Positive Sentiment: ARK Invest reportedly made a $6.8 million purchase of SoFi shares, a notable vote of confidence from a prominent growth investor. Article: Cathie Wood Sees Something in SoFi
• Negative Sentiment: Commentary on SoFi’s growth outlook highlights execution risk: the company needs to convert free or lower-revenue products and its expanding member base into more profitable customer relationships. A high-yield deposit offer could also pressure profitability if its funding costs outweigh the benefits. Article: SoFi's Record Profits Hide 1 Number That Could Decide Its 2027 Growth

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 18,624 shares of the firm's stock in a transaction on Monday, September 21st. The stock was 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 owned 912,650 shares of the company's stock, valued at $15,971,375. This trade represents a 2.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 11,286 shares of the firm's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the sale, the executive vice president directly owned 356,442 shares of the company's stock, valued at $6,415,956. This represents a 3.07% 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 a total of 50,316 shares of company stock valued at $852,605 over the last quarter. 2.50% of the stock is currently owned by corporate insiders.

SoFi Technologies Trading Down 3.9%

SoFi Technologies stock opened at $15.63 on Friday. The stock has a 50-day simple moving average of $16.24 and a 200 day simple moving average of $17.46. The stock has a market capitalization of $20.19 billion, a P/E ratio of 28.42, a PEG ratio of 1.01 and a beta of 2.25. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.10 and a current ratio of 0.74. SoFi Technologies, Inc. has a 52 week low of $13.86 and a 52 week high of $31.75.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.01. SoFi Technologies had a return on equity of 6.81% and a net margin of 15.60%. The firm had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.25 billion. During the same quarter in the prior year, the company earned $0.11 earnings per share. The business's revenue for the quarter was up 44.4% compared to the same quarter last year. Analysts expect that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

SoFi Technologies Profile

SoFi Technologies, Inc. is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings. Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.

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