Allworth Financial LP Decreases Holdings in SoFi Technologies, Inc. $SOFI

Allworth Financial LP reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 26.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,033 shares of the company’s stock after selling 8,747 shares during the period. Allworth Financial LP’s holdings in SoFi Technologies were worth $438,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of SoFi Technologies in the first quarter valued at $47,616,000. Mizuho Markets Cayman LP purchased a new stake in shares of SoFi Technologies in the 2nd quarter worth about $45,525,000. ARK Investment Management LLC grew its stake in SoFi Technologies by 118.5% in the 2nd quarter. ARK Investment Management LLC now owns 4,424,155 shares of the company’s stock valued at $80,564,000 after acquiring an additional 2,399,746 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in SoFi Technologies by 58.3% during 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 acquiring an additional 1,598,721 shares in the last quarter. Finally, Valeo Financial Advisors LLC increased its holdings in SoFi Technologies by 3,703.9% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,337,048 shares of the company’s stock valued at $24,348,000 after acquiring an additional 1,301,899 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on SOFI shares. Truist Financial increased their price target on shares of SoFi Technologies from $29.00 to $31.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. UBS Group upped their target price on SoFi Technologies from $20.50 to $27.50 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. The Goldman Sachs Group upped their price objective on SoFi Technologies from $24.00 to $27.00 and gave the company a “neutral” rating in a research report on Wednesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price objective on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $25.06.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 10,036 shares of the company’s stock in a transaction on Monday, October 20th. The stock was sold at an average price of $28.33, for a total transaction of $284,319.88. Following the completion of the sale, the executive vice president directly owned 275,374 shares in the company, valued at $7,801,345.42. This represents a 3.52% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction on 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 owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 129,383 shares of company stock valued at $3,513,171 over the last three months. Corporate insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Down 2.0%

SOFI opened at $27.82 on Monday. SoFi Technologies, Inc. has a 12 month low of $8.60 and a 12 month high of $32.73. The business has a 50-day moving average of $28.12 and a two-hundred day moving average of $21.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The stock has a market capitalization of $33.55 billion, a price-to-earnings ratio of 51.52, a price-to-earnings-growth ratio of 2.71 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. During the same period last year, the company earned $0.05 earnings per share. The company’s quarterly revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.