SoFi Technologies, Inc. $SOFI Shares Sold by Brighton Jones LLC

Brighton Jones LLC cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 0.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 716,699 shares of the company’s stock after selling 1,777 shares during the quarter. Brighton Jones LLC owned about 0.06% of SoFi Technologies worth $13,051,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of 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 acquiring an additional 1,130,250 shares during the last quarter. Sullivan Wood Capital Management LLC acquired a new stake in shares of SoFi Technologies during the 2nd quarter worth about $2,799,000. Blair William & Co. IL increased its position in shares of SoFi Technologies by 443.9% during the 2nd quarter. Blair William & Co. IL now owns 335,698 shares of the company’s stock worth $6,113,000 after purchasing an additional 273,972 shares during the last quarter. CMG Global Holdings LLC increased its position in shares of SoFi Technologies by 77.8% during the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company’s stock worth $1,728,000 after purchasing an additional 61,443 shares during the last quarter. Finally, Nicholas Wealth LLC. acquired a new stake in shares of SoFi Technologies during the 1st quarter worth about $993,000. 38.43% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total transaction 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 approximately $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the business’s 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 transaction, the executive vice president directly owned 234,622 shares of the company’s stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 129,383 shares of company stock valued at $3,513,171. Corporate insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on SOFI shares. JPMorgan Chase & Co. raised their price objective on SoFi Technologies from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday. The Goldman Sachs Group raised their price objective on SoFi Technologies from $21.00 to $24.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Barclays raised their price objective on SoFi Technologies from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Citigroup raised their price objective on SoFi Technologies from $18.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. Finally, Citizens Jmp downgraded SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $21.18.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $29.01 on Friday. The company has a market cap of $34.74 billion, a P/E ratio of 60.44, a P/E/G ratio of 3.45 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The stock has a 50-day moving average of $26.63 and a two-hundred day moving average of $19.86. SoFi Technologies, Inc. has a 1-year low of $8.60 and a 1-year high of $30.30.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The company had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. During the same period in the previous year, the company posted $0.01 EPS. SoFi Technologies’s revenue 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. As a group, analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS 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.