SteelPeak Wealth LLC Lowers Stock Holdings in SoFi Technologies, Inc. $SOFI

SteelPeak Wealth LLC reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 9.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,478 shares of the company’s stock after selling 2,699 shares during the period. SteelPeak Wealth LLC’s holdings in SoFi Technologies were worth $482,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SOFI. Brighton Jones LLC grew its stake in SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after acquiring an additional 14,281 shares during the period. GAMMA Investing LLC grew its stake in SoFi Technologies by 1,525.8% in the 1st quarter. GAMMA Investing LLC now owns 96,331 shares of the company’s stock worth $1,120,000 after acquiring an additional 90,406 shares during the period. NBC Securities Inc. grew its stake in SoFi Technologies by 109,571.4% in the 1st quarter. NBC Securities Inc. now owns 7,677 shares of the company’s stock worth $89,000 after acquiring an additional 7,670 shares during the period. Wedmont Private Capital grew its stake in SoFi Technologies by 12.6% in the 1st quarter. Wedmont Private Capital now owns 20,614 shares of the company’s stock worth $221,000 after acquiring an additional 2,299 shares during the period. Finally, Farther Finance Advisors LLC grew its stake in SoFi Technologies by 73.3% in the 1st quarter. Farther Finance Advisors LLC now owns 4,348 shares of the company’s stock worth $52,000 after acquiring an additional 1,839 shares during the period. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction 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 owned 759,553 shares in the company, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of the business’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.86, for a total transaction of $279,602.96. Following the completion of the transaction, the executive vice president owned 285,410 shares in the company, valued at $7,951,522.60. This represents a 3.40% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 129,614 shares of company stock valued at $3,452,672. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Stock Down 0.4%

Shares of SoFi Technologies stock opened at $28.02 on Thursday. The company has a fifty day moving average price of $25.37 and a 200 day moving average price of $18.46. The company has a current ratio of 0.80, a quick ratio of 0.14 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 stock has a market cap of $33.55 billion, a price-to-earnings ratio of 58.38, a price-to-earnings-growth 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, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $801.94 million. During the same period in the prior year, the company earned $0.01 EPS. The firm’s revenue was up 42.8% on a year-over-year basis. 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 fiscal year.

Analysts Set New Price Targets

Several analysts have recently issued reports on SOFI shares. JPMorgan Chase & Co. boosted their price objective on shares of SoFi Technologies from $22.00 to $24.00 and gave the company a “neutral” rating in a research note on Wednesday, August 20th. Needham & Company LLC boosted 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. TD Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a “hold” rating and a $21.00 price objective for the company. Citigroup boosted their price objective on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, August 20th. Finally, Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They set a “hold” rating for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has an average 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.