Invesco Ltd. Sells 497,337 Shares of SoFi Technologies, Inc. $SOFI

Invesco Ltd. reduced its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 35.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 911,464 shares of the company’s stock after selling 497,337 shares during the quarter. Invesco Ltd. owned approximately 0.08% of SoFi Technologies worth $10,600,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in SoFi Technologies by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after purchasing an additional 1,130,250 shares during the period. Two Sigma Advisers LP purchased a new position in SoFi Technologies during the 4th quarter valued at $299,980,000. Charles Schwab Investment Management Inc. increased its position in 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 valued at $75,278,000 after purchasing an additional 159,109 shares during the period. Northern Trust Corp increased its position in SoFi Technologies by 22.7% during the 4th quarter. Northern Trust Corp now owns 6,052,301 shares of the company’s stock valued at $93,205,000 after purchasing an additional 1,121,550 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in SoFi Technologies during the 4th quarter valued at $75,139,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SOFI. Morgan Stanley reissued an “underweight” rating and set a $13.00 price objective (up from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. Redburn Atlantic raised shares of SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. Needham & Company LLC boosted their price objective on shares of SoFi Technologies from $20.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday, July 30th. Mizuho set a $26.00 target price on shares of SoFi Technologies and gave the stock an “outperform” rating in a research report on Thursday, July 31st. Finally, Keefe, Bruyette & Woods upped 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. One equities 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 assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and an average price target of $19.35.

Insider Buying and Selling

In related news, Director Magdalena Yesil sold 87,140 shares of the company’s stock in a transaction dated 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 transaction, the director owned 289,258 shares in the company, valued at $4,162,422.62. The trade was a 23.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the company’s stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the transaction, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. The trade was a 4.31% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 272,239 shares of company stock worth $4,123,194 in the last quarter. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Up 7.2%

NASDAQ:SOFI opened at $25.02 on Monday. The company has a market capitalization of $29.96 billion, a PE ratio of 52.13, a P/E/G ratio of 3.10 and a beta of 1.93. The firm’s 50-day moving average price is $20.32 and its 200-day moving average price is $15.54. SoFi Technologies, Inc. has a 1-year low of $6.75 and a 1-year high of $25.25. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $519.37 million for the quarter, compared to analysts’ expectations of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies’s revenue was up 42.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.