SoFi Technologies, Inc. $SOFI Stock Position Lessened by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC cut its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 39.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,830 shares of the company’s stock after selling 40,470 shares during the period. Kestra Private Wealth Services LLC’s holdings in SoFi Technologies were worth $972,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SOFI. Covestor Ltd increased its holdings in SoFi Technologies by 31.6% during the 3rd quarter. Covestor Ltd now owns 3,525 shares of the company’s stock valued at $55,000 after purchasing an additional 846 shares in the last quarter. Rakuten Investment Management Inc. raised its holdings in SoFi Technologies by 13.7% during the 3rd quarter. Rakuten Investment Management Inc. now owns 83,403 shares of the company’s stock worth $1,327,000 after purchasing an additional 10,026 shares during the last quarter. Trek Financial LLC acquired a new position in SoFi Technologies during the 3rd quarter valued at about $4,416,000. Traynor Capital Management Inc. acquired a new position in SoFi Technologies during the 3rd quarter valued at about $216,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in SoFi Technologies during the 3rd quarter valued at about $46,000. 38.43% of the stock is owned by institutional investors.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 18,624 shares of SoFi Technologies stock in a transaction on Monday, September 21st. The shares were sold at an average price of $17.50, for a total transaction of $325,920.00. Following the transaction, the chief technology officer directly owned 912,650 shares of the company’s stock, valued at $15,971,375. This trade represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Kelli Keough sold 10,203 shares of the firm’s stock in a transaction on Tuesday, October 20th. The stock was sold at an average price of $14.72, for a total value of $150,188.16. Following the sale, the executive vice president directly owned 397,870 shares in the company, valued at $5,856,646.40. The trade was a 2.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 50,316 shares of company stock valued at $852,605 in the last ninety days. Insiders own 2.50% of the company’s stock.

Key Stories Impacting SoFi Technologies

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Analyst sentiment has improved: SoFi received a Zacks Rank #2 (Buy), and reports cited an analyst upgrade and potential upside of about 29% based on average price targets. Positive earnings-estimate revisions may also support the outlook. Zacks rating upgrade Analyst price targets
• Positive Sentiment: SoFi’s adjusted net revenue grew 44% in its latest reported quarter, and management raised its full-year guidance. These fundamentals offer support even though the stock has surrendered its post-earnings gains and remains well below its peak. SoFi growth and guidance
• Negative Sentiment: A crypto-led sell-off has weighed on retail-focused fintech shares, including SoFi, as Bitcoin fell and investors retreated from the sector. This broader market pressure may offset company-specific optimism in the near term. Fintech sell-off
• Negative Sentiment: One recent analysis warned that SoFi’s valuation remains steep, a potential risk if growth or earnings expectations disappoint. Valuation analysis

Analysts Set New Price Targets

SOFI has been the subject of several analyst reports. Benchmark reiterated a “sector outperform” rating on shares of SoFi Technologies in a research report on Wednesday, October 28th. Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, October 21st. Loop Capital initiated coverage on shares of SoFi Technologies in a research note on Tuesday, September 8th. They issued a “hold” rating and a $22.00 price objective on the stock. Piper Sandler began coverage on shares of SoFi Technologies in a report on Monday, August 17th. They set an “overweight” rating and a $22.00 target price for the company. Finally, Monness Crespi & Hardt assumed coverage on shares of SoFi Technologies in a report on Monday, October 26th. They set a “buy” rating and a $20.00 target price for the company. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, ten have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $21.27.

SoFi Technologies Trading Up 1.1%

Shares of SoFi Technologies stock traded up $0.17 during trading on Friday, hitting $16.21. 44,052,050 shares of the company were exchanged, compared to its average volume of 55,350,920. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.74 and a quick ratio of 0.10. The firm has a market capitalization of $20.94 billion, a P/E ratio of 29.47, a price-to-earnings-growth ratio of 1.04 and a beta of 2.25. The firm’s fifty day moving average price is $16.35 and its 200 day moving average price is $17.65. SoFi Technologies, Inc. has a 1-year low of $13.86 and a 1-year high of $32.73.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings results on Tuesday, October 27th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.01. SoFi Technologies had a net margin of 15.60% and a return on equity of 6.89%. The business had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.25 billion. During the same period last year, the company posted $0.11 EPS. SoFi Technologies’s revenue for the quarter was up 44.4% on a year-over-year basis. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.61 earnings per share for the current fiscal year.

SoFi Technologies Company Profile

SoFi Technologies, Inc is a digital financial services company that provides lending, banking, investing and other personal finance products through its online platform and mobile app. The company serves consumers primarily in the United States and aims to provide a centralized alternative to traditional financial institutions.

SoFi’s offerings include personal loans, student loan refinancing, home loans, checking and savings accounts, credit cards, investment products and financial education resources.