Clarus Wealth Advisors Trims Stake in SoFi Technologies, Inc. $SOFI

Clarus Wealth Advisors decreased its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 37.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 52,544 shares of the company’s stock after selling 31,147 shares during the period. Clarus Wealth Advisors’ holdings in SoFi Technologies were worth $1,326,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in SOFI. Norges Bank purchased a new stake in SoFi Technologies during the 2nd quarter worth about $164,068,000. Quadrature Capital Ltd acquired a new stake in shares of SoFi Technologies during the 2nd quarter worth about $115,188,000. Marshall Wace LLP grew its holdings in shares of SoFi Technologies by 88.2% during the second quarter. Marshall Wace LLP now owns 7,997,146 shares of the company’s stock worth $145,628,000 after buying an additional 3,748,817 shares in the last quarter. Mizuho Markets Cayman LP acquired a new position in shares of SoFi Technologies in the second quarter valued at approximately $45,525,000. Finally, ARK Investment Management LLC lifted its stake in shares of SoFi Technologies by 118.5% during the second quarter. ARK Investment Management LLC now owns 4,424,155 shares of the company’s stock valued at $80,564,000 after buying an additional 2,399,746 shares during the period. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Price Performance

SOFI stock opened at $25.82 on Tuesday. The company has a market cap of $31.14 billion, a PE ratio of 47.82 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average price of $28.29 and a two-hundred day moving average price of $24.01. SoFi Technologies, Inc. has a 12-month low of $8.60 and a 12-month high of $32.73.

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

Insider Transactions at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Arun Pinto sold 46,132 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $24.76, for a total value of $1,142,228.32. Following the completion of the transaction, the insider directly owned 138,396 shares in the company, valued at $3,426,684.96. This trade represents a 25.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 175,277 shares of company stock valued at $4,694,595 over the last 90 days. Corporate insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jefferies Financial Group reiterated a “buy” rating and issued a $35.00 price target on shares of SoFi Technologies in a report on Tuesday, October 28th. Truist Financial dropped their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating for the company in a research note on Tuesday, November 25th. Needham & Company LLC increased their target price on SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Keefe, Bruyette & Woods lifted their price target on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of SoFi Technologies in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $25.69.

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.