Ritholtz Wealth Management Takes Position in SoFi Technologies, Inc. $SOFI

Ritholtz Wealth Management purchased a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 28,801 shares of the company’s stock, valued at approximately $761,000.

Several other institutional investors have also recently added to or reduced their stakes in SOFI. Key Client Fiduciary Advisors LLC grew its stake in shares of SoFi Technologies by 3.1% in the 3rd quarter. Key Client Fiduciary Advisors LLC now owns 14,101 shares of the company’s stock valued at $373,000 after purchasing an additional 419 shares during the last quarter. Cigna Investments Inc. New grew its position in SoFi Technologies by 4.2% in the 3rd quarter. Cigna Investments Inc. New now owns 11,024 shares of the company’s stock valued at $291,000 after buying an additional 446 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its stake in SoFi Technologies by 46.9% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 1,469 shares of the company’s stock valued at $39,000 after buying an additional 469 shares during the period. Soltis Investment Advisors LLC increased its stake in SoFi Technologies by 1.8% in the 2nd quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company’s stock valued at $518,000 after buying an additional 501 shares during the period. Finally, AE Wealth Management LLC lifted its stake in shares of SoFi Technologies by 2.8% in the 2nd quarter. AE Wealth Management LLC now owns 18,620 shares of the company’s stock worth $339,000 after acquiring an additional 514 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Trading Down 1.2%

NASDAQ:SOFI opened at $26.13 on Tuesday. The company has a market capitalization of $31.51 billion, a PE ratio of 48.39, a price-to-earnings-growth ratio of 1.63 and a beta of 1.92. The company has a quick ratio of 0.16, a current ratio of 0.80 and a debt-to-equity ratio of 0.31. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $32.73. The stock has a fifty day simple moving average of $27.42 and a 200-day simple moving average of $26.05.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates 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 net margin of 19.29% and a return on equity of 5.12%. The firm’s revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities research analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

SOFI has been the subject of several analyst reports. Keefe, Bruyette & Woods increased their price target on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a report on Wednesday, October 29th. Citigroup lifted their price target on SoFi Technologies from $28.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Needham & Company LLC increased their price objective on SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley boosted their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Finally, Bank of America assumed coverage on shares of SoFi Technologies in a report on Tuesday, January 6th. They issued an “underperform” rating and a $20.50 price target for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and a consensus target price of $25.50.

Insider Buying and Selling

In other news, CTO Jeremy Rishel sold 91,837 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $26.64, for a total value of $2,446,537.68. Following the completion of the transaction, the chief technology officer directly owned 794,598 shares of the company’s stock, valued at $21,168,090.72. The trade was a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Arun Pinto sold 46,132 shares of SoFi Technologies stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $24.76, for a total value of $1,142,228.32. Following the sale, the insider owned 138,396 shares of the company’s stock, valued at approximately $3,426,684.96. This represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 157,777 shares of company stock worth $4,119,014 in the last ninety days. Insiders own 2.60% of the company’s stock.

About SoFi Technologies

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.