Spire Wealth Management Reduces Position in SoFi Technologies, Inc. $SOFI

Spire Wealth Management lessened its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 15.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,194 shares of the company’s stock after selling 13,167 shares during the period. Spire Wealth Management’s holdings in SoFi Technologies were worth $1,278,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Hazlett Burt & Watson Inc. boosted its holdings 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 valued at $27,000 after purchasing an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new stake in shares of SoFi Technologies in the first quarter valued at approximately $28,000. SVB Wealth LLC purchased a new stake in shares of SoFi Technologies in the first quarter valued at approximately $28,000. TD Private Client Wealth LLC boosted its holdings in shares of SoFi Technologies by 153.9% in the second quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company’s stock valued at $47,000 after purchasing an additional 1,553 shares during the period. Finally, Larson Financial Group LLC boosted its holdings 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 valued at $32,000 after purchasing an additional 1,519 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analysts Forecast Growth

SOFI has been the subject of a number of research reports. The Goldman Sachs Group boosted their price target on SoFi Technologies from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday. TD Cowen assumed coverage on SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating and a $21.00 price target for the company. Mizuho set a $38.00 price objective on shares of SoFi Technologies in a research note on Thursday. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 price objective on shares of SoFi Technologies in a research note on Tuesday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $24.94.

SoFi Technologies Stock Performance

Shares of NASDAQ:SOFI opened at $29.68 on Friday. The firm has a 50 day moving average of $27.29 and a 200 day moving average of $20.53. The company has a market capitalization of $35.54 billion, a price-to-earnings ratio of 54.96, a price-to-earnings-growth ratio of 2.95 and a beta of 1.92. 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 52 week low of $8.60 and a 52 week high of $32.56.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $949.63 million for the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a return on equity of 5.52% and a net margin of 19.29%.The business’s quarterly revenue was up 37.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 10,578 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares of the company’s stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Jeremy Rishel sold 98,733 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 129,383 shares of company stock worth $3,513,171. Insiders own 2.60% of the company’s stock.

SoFi Technologies Company 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.