Ameritas Advisory Services LLC Acquires New Position in SoFi Technologies, Inc. $SOFI

Ameritas Advisory Services LLC acquired a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 5,957 shares of the company’s stock, valued at approximately $108,000.

Several other large investors also recently bought and sold shares of the business. River Street Advisors LLC grew its stake in SoFi Technologies by 14.6% during the 2nd quarter. River Street Advisors LLC now owns 77,032 shares of the company’s stock valued at $1,403,000 after acquiring an additional 9,830 shares in the last quarter. Sullivan Wood Capital Management LLC purchased a new stake in SoFi Technologies during the 2nd quarter valued at about $2,799,000. Patriot Financial Group Insurance Agency LLC purchased a new stake in SoFi Technologies during the 2nd quarter valued at about $306,000. J. Safra Sarasin Holding AG purchased a new stake in SoFi Technologies during the 2nd quarter valued at about $228,000. Finally, Newman Dignan & Sheerar Inc. grew its stake in SoFi Technologies by 6.6% during the 2nd quarter. Newman Dignan & Sheerar Inc. now owns 20,118 shares of the company’s stock valued at $366,000 after acquiring an additional 1,250 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SOFI. Needham & Company LLC upped their price objective on shares of SoFi Technologies from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a report on Friday, August 1st. They issued a “neutral” rating and a $20.50 target price on the stock. Mizuho boosted their target price on shares of SoFi Technologies from $26.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Finally, Morgan Stanley boosted their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $20.18.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of the company’s stock in a transaction that occurred on 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 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 legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the completion of the transaction, the executive vice president owned 234,622 shares in the company, 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 90 days, insiders sold 129,614 shares of company stock worth $3,452,672. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $28.45 on Friday. The firm’s 50 day moving average price is $25.49 and its 200-day moving average price is $18.56. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. SoFi Technologies, Inc. has a one year low of $8.46 and a one year high of $30.30. The firm has a market cap of $34.07 billion, a P/E ratio of 59.27, a P/E/G ratio of 3.33 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. During the same period in the prior year, the business posted $0.01 EPS. The business’s revenue for the quarter 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, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.