Baird Financial Group Inc. Decreases Stock Position in SoFi Technologies, Inc. $SOFI

Baird Financial Group Inc. reduced its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 78,685 shares of the company’s stock after selling 2,152 shares during the quarter. Baird Financial Group Inc.’s holdings in SoFi Technologies were worth $915,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in SOFI. Hazlett Burt & Watson Inc. raised its stake in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC acquired a new position in SoFi Technologies in the 1st quarter valued at about $28,000. SVB Wealth LLC acquired a new position in SoFi Technologies in the 1st quarter valued at about $28,000. Garde Capital Inc. acquired a new position in SoFi Technologies in the 1st quarter valued at about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new position in SoFi Technologies in the 4th quarter valued at about $32,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on SOFI. Cowen began coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating for the company. 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. JPMorgan Chase & Co. boosted their target price on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Stephens started coverage on SoFi Technologies in a report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 price target for the company. Finally, Rothschild & Co Redburn started coverage on SoFi Technologies in a report on Friday, August 1st. They issued a “neutral” rating and a $20.50 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $19.35.

Insider Activity

In other news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies 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 directly 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total value of $1,039,470.85. Following the completion of the transaction, the chief technology officer directly owned 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,959 shares of company stock worth $1,653,646 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $25.97 on Wednesday. The firm has a market capitalization of $31.10 billion, a P/E ratio of 54.10, a P/E/G ratio of 3.07 and a beta of 1.93. SoFi Technologies, Inc. has a 1-year low of $6.75 and a 1-year high of $26.60. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The business’s 50-day simple moving average is $22.60 and its 200-day simple moving average is $16.38.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share 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 analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The company’s revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the company posted $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 EPS for the current 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.