SoFi Technologies, Inc. $SOFI Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. cut its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 68.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 124,073 shares of the company’s stock after selling 274,479 shares during the period. Edgestream Partners L.P.’s holdings in SoFi Technologies were worth $2,259,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SOFI. Soltis Investment Advisors LLC boosted its position in SoFi Technologies by 1.8% during the second quarter. Soltis Investment Advisors LLC now owns 28,436 shares of the company’s stock worth $518,000 after purchasing an additional 501 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of SoFi Technologies by 2.8% during the 2nd quarter. AE Wealth Management LLC now owns 18,620 shares of the company’s stock worth $339,000 after buying an additional 514 shares during the period. Burney Co. lifted its position in shares of SoFi Technologies by 0.4% during the 2nd quarter. Burney Co. now owns 147,136 shares of the company’s stock valued at $2,679,000 after buying an additional 557 shares in the last quarter. Drive Wealth Management LLC grew its stake in SoFi Technologies by 1.4% in the 2nd quarter. Drive Wealth Management LLC now owns 40,546 shares of the company’s stock valued at $738,000 after acquiring an additional 563 shares during the period. Finally, USAdvisors Wealth Management LLC grew its stake in SoFi Technologies by 4.5% in the 2nd quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company’s stock valued at $295,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

SOFI has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Mizuho set a $38.00 price target on shares of SoFi Technologies in a research note on Thursday, October 30th. BTIG Research reiterated a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. Keefe, Bruyette & Woods increased their target price on SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $24.88.

SoFi Technologies Trading Up 1.8%

Shares of SoFi Technologies stock opened at $29.60 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.80 and a quick ratio of 0.16. The stock’s 50 day simple moving average is $28.21 and its 200-day simple moving average is $23.19. The stock has a market cap of $35.69 billion, a P/E ratio of 54.82, a P/E/G ratio of 2.83 and a beta of 1.93. SoFi Technologies, Inc. has a 1-year low of $8.60 and a 1-year high of $32.73.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The firm 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 5.12% and a net margin of 19.29%.The firm’s revenue was up 37.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 98,733 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Arun Pinto sold 46,132 shares of the company’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the sale, the insider directly owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This represents a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 175,277 shares of company stock worth $4,694,595 in the last quarter. Company 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.