Evolve Private Wealth LLC Invests $726,000 in SoFi Technologies, Inc. $SOFI

Evolve Private Wealth LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 40,503 shares of the company’s stock, valued at approximately $726,000.

A number of other hedge funds have also bought and sold shares of SOFI. BlackRock Inc. bought a new stake in shares of SoFi Technologies during the 2nd quarter worth about $1,298,925,000. Vanguard Group Inc. increased its position in shares of SoFi Technologies by 3.6% in the fourth quarter. Vanguard Group Inc. now owns 111,003,107 shares of the company’s stock worth $2,906,061,000 after acquiring an additional 3,900,895 shares in the last quarter. North Dakota State Investment Board purchased a new position in SoFi Technologies during the 4th quarter worth approximately $1,044,000. Brighton Jones LLC increased its holdings in shares of SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after purchasing an additional 14,281 shares during the period. Finally, Alberta Investment Management Corp acquired a new position in shares of SoFi Technologies in the fourth quarter worth $13,299,000. 38.43% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a research report on Thursday, July 9th. Needham & Company LLC dropped their price target on shares of SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Mizuho reduced their price objective on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $18.00 price target on shares of SoFi Technologies in a report on Thursday, April 30th. Finally, Morgan Stanley lowered their price target on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating on the stock in a research report on Thursday, July 30th. Eight investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $22.42.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer directly owned 895,089 shares in the company, valued at $15,914,682.42. This represents a 10.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Kelli Keough sold 11,286 shares of SoFi Technologies stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the transaction, the executive vice president directly owned 356,442 shares of the company’s stock, valued at approximately $6,415,956. The trade was a 3.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 136,505 shares of company stock worth $2,418,096. Corporate insiders own 2.50% of the company’s stock.

SoFi Technologies Price Performance

Shares of SoFi Technologies stock opened at $18.24 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The firm’s 50-day simple moving average is $17.75 and its 200-day simple moving average is $17.59. SoFi Technologies, Inc. has a twelve month low of $14.88 and a twelve month high of $32.73. The firm has a market cap of $23.56 billion, a P/E ratio of 38.00 and a beta of 2.17.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.01. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The company’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, research analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

SoFi Technologies Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.