US Bancorp DE Lowers Stock Position in SoFi Technologies, Inc. $SOFI

US Bancorp DE cut its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 37,369 shares of the company’s stock after selling 5,017 shares during the period. US Bancorp DE’s holdings in SoFi Technologies were worth $680,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SOFI. Nuveen LLC purchased a new stake in SoFi Technologies during the first quarter worth $47,616,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in SoFi Technologies by 58.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company’s stock worth $50,467,000 after buying an additional 1,598,721 shares in the last quarter. Valeo Financial Advisors LLC boosted its holdings in SoFi Technologies by 3,703.9% during the second quarter. Valeo Financial Advisors LLC now owns 1,337,048 shares of the company’s stock worth $24,348,000 after buying an additional 1,301,899 shares in the last quarter. Vanguard Group Inc. boosted its holdings in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock worth $1,156,805,000 after buying an additional 1,130,250 shares in the last quarter. Finally, Sierra Summit Advisors LLC purchased a new stake in SoFi Technologies during the first quarter worth $9,715,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

SoFi Technologies Stock Performance

SOFI opened at $26.54 on Monday. The firm has a market capitalization of $31.78 billion, a PE ratio of 55.29, a PEG ratio of 3.15 and a beta of 1.92. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month high of $30.30. The firm’s 50-day moving average price is $26.13 and its 200 day moving average price is $19.27. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $519.37 million for the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. SoFi Technologies’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. As a group, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of SoFi Technologies stock in a transaction dated Wednesday, August 20th. The shares were 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 $5,192,184.86. The trade was a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 stock was sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the transaction, the chief technology officer directly owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 119,347 shares of company stock worth $3,228,852 over the last ninety days. 2.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SOFI shares. Mizuho increased their price objective on shares of SoFi Technologies from $26.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, September 18th. Keefe, Bruyette & Woods increased their price objective on shares of SoFi Technologies from $14.00 to $18.00 and gave the company an “underperform” rating in a report on Wednesday, October 15th. Rothschild & Co Redburn started coverage on shares of SoFi Technologies in a report on Friday, August 1st. They set a “neutral” rating and a $20.50 price objective on the stock. Truist Financial set a $23.00 price objective on shares of SoFi Technologies in a report on Monday, August 4th. Finally, Redburn Atlantic raised shares of SoFi Technologies to a “hold” rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $20.71.

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.