SoFi Technologies, Inc. $SOFI Shares Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lifted its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 13.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 167,370 shares of the company’s stock after purchasing an additional 19,439 shares during the quarter. Janney Montgomery Scott LLC’s holdings in SoFi Technologies were worth $3,048,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SOFI. Hazlett Burt & Watson Inc. boosted its position in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after purchasing an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth $28,000. SVB Wealth LLC acquired a new stake in shares of SoFi Technologies in the 1st quarter worth $28,000. Garde Capital Inc. acquired a new stake in shares of SoFi Technologies in the 1st quarter worth $31,000. Finally, Larson Financial Group LLC boosted its position in shares of SoFi Technologies by 127.1% in the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock worth $32,000 after purchasing an additional 1,519 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity

In related news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies 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 completion of the transaction, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. The trade was a 4.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction dated 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 completion of 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 129,614 shares of company stock valued at $3,452,672. 2.60% of the stock is owned by company insiders.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $28.02 on Thursday. 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, Inc. has a twelve month low of $8.30 and a twelve month high of $30.30. The business has a 50-day moving average price of $25.37 and a 200 day moving average price of $18.46. The firm has a market cap of $33.55 billion, a PE ratio of 58.38, a P/E/G ratio of 3.34 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly 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 firm had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same quarter in the previous year, the business earned $0.01 EPS. SoFi Technologies’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. Sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on SOFI shares. The Goldman Sachs Group started coverage on SoFi Technologies in a research report on Monday, July 14th. They set a “neutral” rating and a $19.00 price target for the company. Morgan Stanley lifted their price target on SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. JMP Securities reaffirmed a “market perform” rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. Rothschild & Co Redburn started coverage on SoFi Technologies in a research report on Friday, August 1st. They set a “neutral” rating and a $20.50 price target for the company. Finally, TD Cowen started coverage on SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating and a $21.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, six have issued 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 a consensus rating of “Hold” and an average 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.