Drive Wealth Management LLC Buys 563 Shares of SoFi Technologies, Inc. $SOFI

Drive Wealth Management LLC increased its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 1.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,546 shares of the company’s stock after purchasing an additional 563 shares during the quarter. Drive Wealth Management LLC’s holdings in SoFi Technologies were worth $738,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Hazlett Burt & Watson Inc. boosted its position in shares of SoFi Technologies by 2,200.0% in the first 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 during the period. Headlands Technologies LLC bought a new position in shares of SoFi Technologies in the first quarter worth approximately $28,000. SVB Wealth LLC bought a new position in shares of SoFi Technologies in the first quarter worth approximately $28,000. Garde Capital Inc. bought a new position in shares of SoFi Technologies in the first quarter worth approximately $31,000. Finally, Larson Financial Group LLC boosted its position in shares of SoFi Technologies by 127.1% in the first 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 during the period. 38.43% of the stock is owned by institutional investors.

Insider Buying and Selling at SoFi Technologies

In other news, EVP Kelli Keough sold 10,036 shares of the stock in a transaction on 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on 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 completion of the sale, the chief technology officer directly owned 759,553 shares in the company, 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 three months, insiders sold 119,347 shares of company stock worth $3,228,852. Insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SOFI. Rothschild & Co Redburn began coverage on shares of SoFi Technologies in a research report on Friday, August 1st. They issued a “neutral” rating and a $20.50 price target for the company. Morgan Stanley upped their target price on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research report on Monday, September 29th. Barclays upped their target price on shares of SoFi Technologies from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Truist Financial set a $23.00 target price on shares of SoFi Technologies in a research report on Monday, August 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of SoFi Technologies from $22.00 to $24.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 20th. One research 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 assigned a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $20.71.

SoFi Technologies Price Performance

SOFI stock opened at $26.54 on Monday. SoFi Technologies, Inc. has a 52 week low of $8.60 and a 52 week 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. The company has a fifty day simple moving average of $26.13 and a two-hundred day simple moving average of $19.27. The firm has a market capitalization of $31.78 billion, a P/E ratio of 55.29, a price-to-earnings-growth ratio of 3.15 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The business had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. During the same quarter last year, the business earned $0.01 earnings per share. SoFi Technologies’s quarterly revenue 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. Analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

SoFi Technologies Profile

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.