SoFi Technologies, Inc. $SOFI Stake Decreased by Brighton Jones LLC

Brighton Jones LLC decreased its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 22.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 485,437 shares of the company’s stock after selling 138,540 shares during the period. Brighton Jones LLC’s holdings in SoFi Technologies were worth $7,631,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of SOFI. BlackRock Inc. acquired a new position in shares of SoFi Technologies in the second quarter valued at $1,298,925,000. Bank of America Corp DE acquired a new stake in SoFi Technologies during the second quarter worth $163,808,000. Dimensional Fund Advisors LP boosted its stake in SoFi Technologies by 4.1% during the first quarter. Dimensional Fund Advisors LP now owns 9,106,532 shares of the company’s stock worth $144,539,000 after buying an additional 359,785 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in SoFi Technologies by 2.8% during the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,689,426 shares of the company’s stock worth $90,348,000 after buying an additional 156,218 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in SoFi Technologies in the 2nd quarter valued at $93,937,000. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Trading Up 1.1%

Shares of SOFI opened at $16.21 on Friday. The stock has a fifty day moving average price of $16.35 and a two-hundred day moving average price of $17.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. SoFi Technologies, Inc. has a 52-week low of $13.86 and a 52-week high of $32.73. The company has a market cap of $20.94 billion, a price-to-earnings ratio of 29.47, a PEG ratio of 1.01 and a beta of 2.25.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 27th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.17 by $0.01. The company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.25 billion. SoFi Technologies had a return on equity of 6.89% and a net margin of 15.60%. The business’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.11 earnings per share. Analysts predict that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Insider Activity

In related news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. This represents a 3.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 18,624 shares of the stock in a transaction dated Monday, September 21st. The stock was sold at an average price of $17.50, for a total transaction of $325,920.00. Following the sale, the chief technology officer directly owned 912,650 shares in the company, valued at approximately $15,971,375. This represents a 2.00% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 50,316 shares of company stock worth $852,605. 2.50% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SOFI has been the subject of several recent research reports. Mizuho dropped their price target on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, July 31st. Weiss Ratings upgraded shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, October 21st. Keefe, Bruyette & Woods lifted their price objective on SoFi Technologies from $15.00 to $16.00 and gave the company an “underperform” rating in a report on Wednesday, October 28th. Morgan Stanley dropped their target price on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a report on Thursday, July 30th. Finally, Wells Fargo & Company reissued a “negative” rating on shares of SoFi Technologies in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $21.27.

Key SoFi Technologies News

Here are the key news stories impacting SoFi Technologies this week:

• Positive Sentiment: Analyst sentiment has improved: SoFi received a Zacks Rank #2 (Buy), and reports cited an analyst upgrade and potential upside of about 29% based on average price targets. Positive earnings-estimate revisions may also support the outlook. Zacks rating upgrade Analyst price targets
• Positive Sentiment: SoFi’s adjusted net revenue grew 44% in its latest reported quarter, and management raised its full-year guidance. These fundamentals offer support even though the stock has surrendered its post-earnings gains and remains well below its peak. SoFi growth and guidance
• Negative Sentiment: A crypto-led sell-off has weighed on retail-focused fintech shares, including SoFi, as Bitcoin fell and investors retreated from the sector. This broader market pressure may offset company-specific optimism in the near term. Fintech sell-off
• Negative Sentiment: One recent analysis warned that SoFi’s valuation remains steep, a potential risk if growth or earnings expectations disappoint. Valuation analysis

SoFi Technologies Company Profile

SoFi Technologies, Inc is a U.S.-based digital financial services company that offers consumer lending, banking and investment products through its online platform. Its services include personal, student and home loans, deposit accounts, credit cards and investment offerings.

Founded in 2011 as Social Finance, the company initially focused on student loan refinancing before expanding into a broader range of financial services. SoFi also provides financial technology infrastructure through businesses including Galileo, which supports payment processing and other services for financial institutions and fintech companies.

SoFi primarily serves consumers in the United States.