KMG Fiduciary Partners LLC Invests $202,000 in SoFi Technologies, Inc. $SOFI

KMG Fiduciary Partners LLC purchased a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,094 shares of the company’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. grew its position in SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after acquiring an additional 2,200 shares in the last quarter. Headlands Technologies LLC purchased a new position in SoFi Technologies in the first quarter worth about $28,000. SVB Wealth LLC purchased a new position in SoFi Technologies in the first quarter worth about $28,000. Garde Capital Inc. purchased a new position in SoFi Technologies in the first quarter worth about $31,000. Finally, Larson Financial Group LLC grew its position in SoFi Technologies by 127.1% in the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock worth $32,000 after acquiring an additional 1,519 shares in the last quarter. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SOFI. Truist Financial set a $23.00 target price on SoFi Technologies in a research report on Monday, August 4th. Needham & Company LLC upped their price objective on SoFi Technologies from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.00 price objective (up previously from $11.00) on shares of SoFi Technologies in a research report on Wednesday, July 30th. The Goldman Sachs Group started coverage on SoFi Technologies in a research report on Monday, July 14th. They issued a “neutral” rating and a $19.00 price objective on the stock. Finally, Cowen started coverage on SoFi Technologies in a research report on Friday, July 11th. They issued a “hold” rating on the stock. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and an average price target of $19.88.

SoFi Technologies Stock Up 3.6%

SoFi Technologies stock opened at $28.11 on Friday. The business has a fifty day moving average of $23.65 and a two-hundred day moving average of $16.98. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The firm has a market cap of $33.66 billion, a P/E ratio of 58.56, a P/E/G ratio of 3.22 and a beta of 1.93. SoFi Technologies, Inc. has a twelve month low of $7.57 and a twelve month high of $28.58.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The company had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.SoFi Technologies’s revenue was up 42.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 10,578 shares of the company’s stock in a transaction 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 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

SoFi Technologies Company 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.