Parallel Advisors LLC Acquires 5,475 Shares of SoFi Technologies, Inc. $SOFI

Parallel Advisors LLC boosted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 62.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 14,229 shares of the company’s stock after acquiring an additional 5,475 shares during the quarter. Parallel Advisors LLC’s holdings in SoFi Technologies were worth $259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. raised its position in shares of SoFi Technologies by 2,200.0% in the first 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 period. Headlands Technologies LLC bought a new position in shares of SoFi Technologies in the first quarter valued at approximately $28,000. SVB Wealth LLC bought a new position in shares of SoFi Technologies in the first quarter valued at approximately $28,000. Garde Capital Inc. bought a new position in shares of SoFi Technologies in the first quarter valued at approximately $31,000. Finally, Larson Financial Group LLC raised its position in shares of SoFi Technologies by 127.1% in the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock valued at $32,000 after purchasing an additional 1,519 shares during the period. Institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SOFI shares. Cowen started coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They issued a “hold” rating on the stock. JMP Securities reissued a “market perform” rating and issued a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. Morgan Stanley reissued an “underweight” rating and issued a $13.00 price target (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. JPMorgan Chase & Co. raised their price objective on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 20th. Finally, Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a research note on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eleven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $19.88.

Insider Transactions at SoFi Technologies

In related 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,614 shares of company stock valued at $3,452,672 over the last ninety days. 2.60% of the stock is currently owned by company insiders.

SoFi Technologies Stock Up 5.0%

Shares of NASDAQ:SOFI opened at $29.51 on Monday. SoFi Technologies, Inc. has a 52 week low of $7.57 and a 52 week high of $29.63. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The company’s fifty day moving average is $23.82 and its 200-day moving average is $17.15. The company has a market capitalization of $35.34 billion, a PE ratio of 61.48, a P/E/G ratio of 3.51 and a beta of 1.93.

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

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.