Beacon Pointe Advisors LLC Sells 23,903 Shares of SoFi Technologies, Inc. $SOFI

Beacon Pointe Advisors LLC lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 18.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 107,826 shares of the company’s stock after selling 23,903 shares during the period. Beacon Pointe Advisors LLC’s holdings in SoFi Technologies were worth $1,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of SoFi Technologies by 12.5% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,879,959 shares of the company’s stock worth $88,864,000 after acquiring an additional 540,610 shares in the last quarter. Vanguard Group Inc. boosted its stake in SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock worth $1,156,805,000 after purchasing an additional 1,130,250 shares during the period. Sullivan Wood Capital Management LLC bought a new position in SoFi Technologies during the 2nd quarter worth about $2,799,000. Blair William & Co. IL raised its stake in shares of SoFi Technologies by 443.9% in the 2nd quarter. Blair William & Co. IL now owns 335,698 shares of the company’s stock valued at $6,113,000 after purchasing an additional 273,972 shares during the period. Finally, Vestmark Advisory Solutions Inc. bought a new stake in shares of SoFi Technologies in the second quarter valued at about $209,000. 38.43% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SOFI shares. JPMorgan Chase & Co. lifted their target price on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Keefe, Bruyette & Woods boosted their price objective on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 29th. Truist Financial reduced their target price on shares of SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a report on Tuesday, November 25th. Citigroup lifted their price target on shares of SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, The Goldman Sachs Group raised their price objective on SoFi Technologies from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, SoFi Technologies has a consensus rating of “Hold” and an average price target of $24.88.

Insider Buying and Selling

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the firm’s 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 transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Arun Pinto sold 46,132 shares of the business’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the transaction, the insider owned 138,396 shares of the company’s stock, valued at $3,426,684.96. The trade was a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 175,277 shares of company stock worth $4,694,595. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $27.78 on Friday. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.73. The stock has a market cap of $33.50 billion, a PE ratio of 51.45, a P/E/G ratio of 2.90 and a beta of 1.93. The firm has a 50-day moving average of $28.20 and a 200-day moving average of $23.29. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.16 and a current ratio of 0.80.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.02. The firm had revenue of $949.63 million for the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The company’s quarterly revenue was up 37.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, sell-side analysts anticipate 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.