Wealth Enhancement Advisory Services LLC Has $3.72 Million Stock Position in SoFi Technologies, Inc. $SOFI

Key Points

• Wealth Enhancement Advisory Services LLC cut its stake in SoFi Technologies by 55.5%, owning 200,276 shares worth approximately $3.72 million after selling 249,813 shares in the 2nd quarter.
• Insider transactions revealed that SoFi's CTO Jeremy Rishel sold 98,733 shares for nearly $2.72 million, reducing his holdings by 11.5%, while EVP Kelli Keough also sold shares, indicating insider selling activity.
• SoFi Technologies reported earnings of $0.08 per share for the last quarter, surpassing analyst expectations, despite revenue coming in below estimates at $519.37 million, which reflects a 42.8% year-over-year increase.

Wealth Enhancement Advisory Services LLC decreased its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI - Free Report) by 55.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 200,276 shares of the company's stock after selling 249,813 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in SoFi Technologies were worth $3,719,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wedmont Private Capital grew its holdings in SoFi Technologies by 4.3% during the 2nd quarter. Wedmont Private Capital now owns 21,493 shares of the company's stock worth $435,000 after acquiring an additional 879 shares during the period. Bank of New Hampshire grew its stake in shares of SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company's stock worth $47,000 after purchasing an additional 1,000 shares during the period. Vermillion & White Wealth Management Group LLC grew its stake in shares of SoFi Technologies by 16.7% during the first quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company's stock worth $81,000 after purchasing an additional 1,000 shares during the period. Arkadios Wealth Advisors grew its position in shares of SoFi Technologies by 1.8% during the 1st quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company's stock worth $737,000 after buying an additional 1,092 shares during the period. Finally, Signaturefd LLC grew its position in shares of SoFi Technologies by 6.2% during the 1st quarter. Signaturefd LLC now owns 21,476 shares of the company's stock worth $250,000 after buying an additional 1,246 shares during the period. Institutional investors and hedge funds own 38.43% of the company's stock.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the company'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 transaction of $2,715,157.50. Following the completion of the transaction, the chief technology officer owned 759,553 shares of the company's stock, valued at $20,887,707.50. This represents a 11.50% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,578 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares of the company's stock, valued at $5,192,184.86. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 129,614 shares of company stock valued at $3,452,672. Insiders own 2.60% of the company's stock.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $27.98 on Friday. The firm has a market cap of $33.50 billion, a PE ratio of 58.29, a PEG ratio of 3.34 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 1-year low of $7.57 and a 1-year high of $30.30. The company has a fifty day moving average price of $24.54 and a 200 day moving average price of $17.66.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million during 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 company's revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SOFI. JMP Securities restated a "market perform" rating and set a $17.00 target price on shares of SoFi Technologies in a research report on Monday, July 14th. Stephens assumed coverage on shares of SoFi Technologies in a report on Thursday, June 12th. They set an "overweight" rating and a $20.00 price objective for the company. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a report on Friday, August 1st. They issued a "neutral" rating and a $20.50 price target for the company. Needham & Company LLC boosted their price target on shares of SoFi Technologies from $25.00 to $29.00 and gave the company a "buy" rating in a report on Wednesday, September 10th. Finally, Citigroup boosted their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, August 20th. One investment 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 assigned a Sell rating to the company. Based on data from MarketBeat, SoFi Technologies currently has an average rating of "Hold" and a consensus target price of $19.88.

About SoFi Technologies

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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