Newman Dignan & Sheerar Inc. Grows Stake in SoFi Technologies, Inc. $SOFI

Newman Dignan & Sheerar Inc. grew its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 6.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,118 shares of the company’s stock after buying an additional 1,250 shares during the period. Newman Dignan & Sheerar Inc.’s holdings in SoFi Technologies were worth $366,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SOFI. Wedmont Private Capital increased its stake in shares of SoFi Technologies by 4.3% in the 2nd quarter. Wedmont Private Capital now owns 21,493 shares of the company’s stock worth $435,000 after acquiring an additional 879 shares in the last quarter. Bank of New Hampshire boosted its stake in SoFi Technologies by 33.3% during the first quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock worth $47,000 after acquiring an additional 1,000 shares in the last quarter. Vermillion & White Wealth Management Group LLC grew its holdings in SoFi Technologies by 16.7% in the first quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company’s stock worth $81,000 after purchasing an additional 1,000 shares during the period. Arkadios Wealth Advisors grew its holdings in SoFi Technologies by 1.8% in the first quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company’s stock worth $737,000 after purchasing an additional 1,092 shares during the period. Finally, Public Employees Retirement System of Ohio increased its stake in shares of SoFi Technologies by 0.4% during the second quarter. Public Employees Retirement System of Ohio now owns 330,122 shares of the company’s stock valued at $6,012,000 after purchasing an additional 1,193 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Down 2.5%

SOFI opened at $25.76 on Thursday. The stock has a market capitalization of $30.85 billion, a price-to-earnings ratio of 53.67, a PEG ratio of 3.14 and a beta of 1.92. The firm has a 50 day moving average price of $24.86 and a 200-day moving average price of $17.96. SoFi Technologies, Inc. has a twelve month low of $7.57 and a twelve month high of $30.30. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

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

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of the business’s stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.86, for a total value of $279,602.96. Following the sale, the executive vice president owned 285,410 shares of the company’s stock, valued at approximately $7,951,522.60. This represents a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 129,614 shares of company stock valued at $3,452,672. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. JPMorgan Chase & Co. boosted their price target on SoFi Technologies from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. Citigroup lifted their price objective on SoFi Technologies from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Cowen started coverage on SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating on the stock. The Goldman Sachs Group initiated coverage on SoFi Technologies in a report on Monday, July 14th. They set a “neutral” rating and a $19.00 price target for the company. Finally, JMP Securities reaffirmed a “market perform” rating and issued a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eleven have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $20.18.

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.