SoFi Technologies, Inc. $SOFI Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 91.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,536 shares of the company’s stock after selling 37,588 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in SoFi Technologies were worth $64,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SOFI. Brighton Jones LLC grew its stake in shares of SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after buying an additional 14,281 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of SoFi Technologies by 1,525.8% in the first quarter. GAMMA Investing LLC now owns 96,331 shares of the company’s stock valued at $1,120,000 after buying an additional 90,406 shares in the last quarter. Farther Finance Advisors LLC grew its stake in shares of SoFi Technologies by 73.3% in the first quarter. Farther Finance Advisors LLC now owns 4,348 shares of the company’s stock valued at $52,000 after buying an additional 1,839 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of SoFi Technologies by 138.3% in the first quarter. SG Americas Securities LLC now owns 156,465 shares of the company’s stock valued at $1,820,000 after buying an additional 565,390 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its stake in shares of SoFi Technologies by 1.9% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 450,089 shares of the company’s stock valued at $5,235,000 after buying an additional 8,432 shares in the last quarter. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Trading Down 7.9%

Shares of NASDAQ SOFI opened at $26.19 on Monday. The stock’s 50 day moving average price is $25.59 and its two-hundred day moving average price is $18.73. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $30.30. The stock has a market capitalization of $31.36 billion, a P/E ratio of 54.57, a PEG ratio of 3.11 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 (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate 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. SoFi Technologies’s revenue for the quarter 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. On average, analysts anticipate that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on SOFI shares. Keefe, Bruyette & Woods increased their target price on SoFi Technologies from $13.00 to $14.00 and gave the company an “underperform” rating in a research note on Tuesday, August 5th. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. Truist Financial set a $23.00 price objective on SoFi Technologies in a research note on Monday, August 4th. Cowen assumed coverage on SoFi Technologies in a research note on Friday, July 11th. They set a “hold” rating for the company. Finally, Rothschild & Co Redburn assumed coverage on SoFi Technologies in a research note on Friday, August 1st. They set a “neutral” rating and a $20.50 price objective for the company. One equities research 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 issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $20.18.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 98,733 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The stock was 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 in the company, valued at $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Kelli Keough sold 10,036 shares of the stock in a transaction that occurred on Thursday, September 18th. The stock was 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 in the company, valued at $7,951,522.60. The trade was a 3.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 129,614 shares of company stock worth $3,452,672 in the last 90 days. 2.60% of the stock is currently owned by insiders.

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.