SoFi Technologies, Inc. $SOFI Shares Sold by Comerica Bank

Comerica Bank lessened its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 39.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 13,200 shares of the company’s stock after selling 8,641 shares during the period. Comerica Bank’s holdings in SoFi Technologies were worth $154,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Two Sigma Advisers LP purchased a new position in SoFi Technologies in the 4th quarter valued at approximately $299,980,000. Voloridge Investment Management LLC purchased a new position in SoFi Technologies in the 4th quarter valued at approximately $75,139,000. Nuveen LLC purchased a new position in SoFi Technologies in the 1st quarter valued at approximately $47,616,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in SoFi Technologies by 58.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company’s stock valued at $50,467,000 after buying an additional 1,598,721 shares during the period. Finally, Vanguard Group Inc. boosted its position in SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after buying an additional 1,130,250 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $25.52 on Thursday. The company’s fifty day moving average price is $22.74 and its 200 day moving average price is $16.44. SoFi Technologies, Inc. has a 12 month low of $6.95 and a 12 month high of $26.86. 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 firm has a market capitalization of $30.56 billion, a P/E ratio of 53.17, a P/E/G ratio of 3.08 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last announced 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 firm had revenue of $519.37 million for 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%. SoFi Technologies’s revenue for the quarter was up 42.8% compared to the same quarter last year. During the same period last year, the business earned $0.01 EPS. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on SOFI shares. Citigroup raised their price target on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, August 20th. Cowen initiated coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating for the company. JPMorgan Chase & Co. lifted their price objective on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Barclays lifted 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 report on Wednesday, July 30th. Finally, TD Cowen initiated coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating and a $21.00 price objective for the company. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $19.59.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 66,847 shares of SoFi Technologies stock in a transaction on 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 transaction, the chief technology officer directly owned 724,321 shares in the company, valued at approximately $11,263,191.55. The trade was a 8.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction on Wednesday, August 20th. The shares were 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. This represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,959 shares of company stock worth $1,653,646. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies 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.