Raymond James Financial Inc. Has $7.21 Million Holdings in SoFi Technologies, Inc. $SOFI

Raymond James Financial Inc. cut its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 34.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 619,902 shares of the company’s stock after selling 320,266 shares during the quarter. Raymond James Financial Inc. owned approximately 0.06% of SoFi Technologies worth $7,209,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in SOFI. Brighton Jones LLC lifted its holdings in SoFi Technologies by 2.0% during the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after purchasing an additional 14,281 shares during the last quarter. Hsbc Holdings PLC acquired a new stake in shares of SoFi Technologies during the fourth quarter worth approximately $204,000. AQR Capital Management LLC raised its stake in shares of SoFi Technologies by 28.5% in the fourth quarter. AQR Capital Management LLC now owns 635,594 shares of the company’s stock valued at $9,788,000 after acquiring an additional 141,153 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $1,963,000. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of SoFi Technologies by 17.3% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 172,984 shares of the company’s stock worth $2,664,000 after acquiring an additional 25,480 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SOFI. Citigroup lifted their price objective on SoFi Technologies from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Needham & Company LLC raised their target price on SoFi Technologies from $20.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, July 30th. TD Cowen assumed coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating and a $21.00 price target on the stock. Mizuho set a $26.00 price objective on shares of SoFi Technologies and gave the company an “outperform” rating in a research report on Thursday, July 31st. Finally, Citizens Jmp downgraded shares of SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research note on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have issued 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, SoFi Technologies presently has an average rating of “Hold” and an average target price of $19.35.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $24.91 on Wednesday. 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 $6.75 and a 1-year high of $26.60. The stock has a market capitalization of $29.83 billion, a P/E ratio of 51.90, a P/E/G ratio of 3.02 and a beta of 1.93. The business has a 50-day moving average price of $21.77 and a two-hundred day moving average price of $16.04.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $519.37 million during 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% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Equities analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares of the company’s stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Magdalena Yesil sold 87,140 shares of the firm’s stock in a transaction dated Tuesday, June 10th. The stock was 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 approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,239 shares of company stock worth $4,123,194. Insiders own 2.60% of the company’s stock.

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.