Means Investment CO. Inc. Buys 5,800 Shares of SoFi Technologies, Inc. $SOFI

Means Investment CO. Inc. grew its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 12.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 54,138 shares of the company’s stock after purchasing an additional 5,800 shares during the period. Means Investment CO. Inc.’s holdings in SoFi Technologies were worth $986,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SOFI. Hazlett Burt & Watson Inc. increased its stake in 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 acquiring an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new stake in SoFi Technologies in the first quarter worth $28,000. SVB Wealth LLC bought a new stake in SoFi Technologies in the first quarter worth $28,000. Garde Capital Inc. purchased a new stake in SoFi Technologies during the first quarter valued at $31,000. Finally, Larson Financial Group LLC lifted its position in SoFi Technologies by 127.1% during the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock valued at $32,000 after purchasing an additional 1,519 shares during the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Stock Down 7.9%

Shares of NASDAQ SOFI opened at $26.19 on Friday. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $30.30. The firm has a 50-day simple moving average of $25.59 and a two-hundred day simple moving average of $18.68. The company has a market cap of $31.36 billion, a P/E ratio of 54.57, a PEG ratio of 3.12 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14.

SoFi Technologies (NASDAQ:SOFI) last released its earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $801.94 million. During the same quarter in the prior year, the firm posted $0.01 earnings per share. The company’s quarterly 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. Research analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,036 shares of the firm’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 transaction, the executive vice president owned 285,410 shares of the company’s stock, valued at $7,951,522.60. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 transaction of $2,715,157.50. Following the sale, the chief technology officer owned 759,553 shares of the company’s stock, valued at $20,887,707.50. The trade was a 11.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 129,614 shares of company stock worth $3,452,672. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SOFI shares. Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating on the stock. Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. JPMorgan Chase & Co. upped their price objective on SoFi Technologies from $22.00 to $24.00 and gave the company a “neutral” rating in a research report on Wednesday, August 20th. Needham & Company LLC raised their price objective on SoFi Technologies from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Finally, Mizuho lifted their target price on SoFi Technologies from $26.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, 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.