SoFi Technologies, Inc. (NASDAQ:SOFI) Shares Bought by US Bancorp DE

Key Points

• US Bancorp DE increased its position in SoFi Technologies by 35.2%, acquiring an additional 11,031 shares, bringing its total holdings to 42,386 shares valued at approximately $493,000.
• Insider selling has been notable, with Director Magdalena Yesil and CTO Jeremy Rishel selling a combined total of 153,987 shares recently, indicating a decrease in their ownership stakes.
• Analysts have mixed ratings on SoFi Technologies, with an average target price of $18.29 and various firms adjusting their positions, including a boost from Needham & Company to a $25.00 target with a "buy" rating.

US Bancorp DE raised its stake in SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 35.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,386 shares of the company's stock after buying an additional 11,031 shares during the period. US Bancorp DE's holdings in SoFi Technologies were worth $493,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Elequin Capital LP raised its holdings in shares of SoFi Technologies by 30.1% in the 4th quarter. Elequin Capital LP now owns 2,726 shares of the company's stock valued at $42,000 after purchasing an additional 631 shares in the last quarter. Bank of New Hampshire raised its holdings in shares of SoFi Technologies by 33.3% in the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock valued at $47,000 after purchasing an additional 1,000 shares in the last quarter. Arkadios Wealth Advisors raised its holdings in shares of SoFi Technologies by 1.8% in the 1st quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock valued at $737,000 after purchasing an additional 1,092 shares in the last quarter. Signaturefd LLC raised its holdings in shares of SoFi Technologies by 6.2% in the 1st quarter. Signaturefd LLC now owns 21,476 shares of the company's stock valued at $250,000 after purchasing an additional 1,246 shares in the last quarter. Finally, Compass Capital Corp MA ADV raised its holdings in shares of SoFi Technologies by 12.6% in the 1st quarter. Compass Capital Corp MA ADV now owns 11,260 shares of the company's stock valued at $131,000 after purchasing an additional 1,260 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Magdalena Yesil sold 87,140 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $14.39, for a total value of $1,253,944.60. Following the sale, the director directly owned 289,258 shares of the company's stock, valued at $4,162,422.62. This represents a 23.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Jeremy Rishel sold 66,847 shares of the stock in a transaction on Friday, June 20th. The stock was sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the sale, the chief technology officer directly owned 724,321 shares in the company, valued at $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 273,181 shares of company stock valued at $4,043,240 in the last ninety days. Insiders own 2.60% of the company's stock.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several recent research reports. Stephens initiated coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They issued an "overweight" rating and a $20.00 price target for the company. Morgan Stanley reiterated an "underweight" rating and set a $13.00 price objective (up previously from $11.00) on shares of SoFi Technologies in a research note on Wednesday, July 30th. Redburn Atlantic upgraded shares of SoFi Technologies to a "hold" rating in a research note on Friday, August 1st. Barclays boosted their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Finally, UBS Group boosted their price objective on shares of SoFi Technologies from $14.00 to $15.50 and gave the stock a "neutral" rating in a research note on Wednesday, April 30th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $18.29.

SoFi Technologies Stock Performance

Shares of SOFI stock traded up $0.48 during trading hours on Friday, hitting $23.77. The company's stock had a trading volume of 44,484,241 shares, compared to its average volume of 74,008,424. The company has a 50 day moving average of $19.41 and a 200 day moving average of $15.27. The stock has a market cap of $26.27 billion, a PE ratio of 49.52, a price-to-earnings-growth ratio of 2.88 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a 12-month low of $6.75 and a 12-month high of $25.11.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. The business had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The business's revenue for the quarter was up 42.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.01 EPS. On average, sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal 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.