Belpointe Asset Management LLC Has $224,000 Position in SoFi Technologies, Inc. $SOFI

Belpointe Asset Management LLC lowered its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 44.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,287 shares of the company’s stock after selling 15,726 shares during the period. Belpointe Asset Management LLC’s holdings in SoFi Technologies were worth $224,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock worth $1,156,805,000 after buying an additional 1,130,250 shares during the last quarter. CMG Global Holdings LLC increased its holdings in SoFi Technologies by 77.8% in the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company’s stock worth $1,728,000 after buying an additional 61,443 shares during the last quarter. Nicholas Wealth LLC. acquired a new position in SoFi Technologies in the first quarter worth approximately $993,000. Quantitative Investment Management LLC acquired a new position in SoFi Technologies in the first quarter worth approximately $2,862,000. Finally, Sierra Summit Advisors LLC acquired a new position in SoFi Technologies in the first quarter worth approximately $9,715,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on SOFI shares. The Goldman Sachs Group started coverage on SoFi Technologies in a research report on Monday, July 14th. They set a “neutral” rating and a $19.00 target price for the company. JMP Securities reaffirmed a “market perform” rating and set a $17.00 target price on shares of SoFi Technologies in a research report on Monday, July 14th. Redburn Atlantic raised SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. Morgan Stanley reaffirmed an “underweight” rating and set a $13.00 target price (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. Finally, Stephens started coverage on SoFi Technologies in a research report on Thursday, June 12th. They set an “overweight” rating and a $20.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $19.59.

SoFi Technologies Stock Performance

SoFi Technologies stock opened at $27.67 on Tuesday. The stock has a 50-day simple moving average of $23.22 and a 200 day simple moving average of $16.73. The stock has a market capitalization of $33.13 billion, a price-to-earnings ratio of 57.65, a P/E/G ratio of 3.14 and a beta of 1.93. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a 12-month low of $7.57 and a 12-month high of $27.77.

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

Insider Activity

In related news, CTO Jeremy Rishel sold 66,847 shares of the company’s stock in a transaction dated Friday, June 20th. The shares were sold at an average price of $15.55, for a total transaction of $1,039,470.85. Following the transaction, the chief technology officer owned 724,321 shares in the company, valued at $11,263,191.55. This represents a 8.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction, the executive vice president owned 234,622 shares in the company, valued at approximately $5,192,184.86. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 97,959 shares of company stock worth $1,653,646. 2.60% of the stock is owned by corporate insiders.

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.