81,700 Shares in SoFi Technologies, Inc. $SOFI Acquired by Covenant Asset Management LLC

Covenant Asset Management LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 81,700 shares of the company’s stock, valued at approximately $2,159,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simplicity Wealth LLC raised its stake in shares of SoFi Technologies by 523.8% during the 3rd quarter. Simplicity Wealth LLC now owns 129,184 shares of the company’s stock worth $3,413,000 after purchasing an additional 108,476 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of SoFi Technologies during the 3rd quarter worth about $180,000. Universal Beteiligungs und Servicegesellschaft mbH grew its holdings in SoFi Technologies by 11.8% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 392,778 shares of the company’s stock valued at $10,377,000 after buying an additional 41,510 shares during the last quarter. Dynasty Wealth Management LLC bought a new position in SoFi Technologies in the 3rd quarter worth approximately $317,000. Finally, Root Financial Partners LLC acquired a new position in shares of SoFi Technologies during the third quarter worth approximately $100,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Performance

NASDAQ SOFI opened at $25.64 on Thursday. SoFi Technologies, Inc. has a 1-year low of $8.60 and a 1-year high of $32.73. The company has a 50 day moving average of $27.18 and a 200-day moving average of $26.09. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The firm has a market cap of $30.92 billion, a price-to-earnings ratio of 47.48, a PEG ratio of 1.60 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, October 28th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. SoFi Technologies had a return on equity of 5.12% and a net margin of 19.29%.The business had revenue of $949.63 million for the quarter, compared to analyst estimates of $880.33 million. During the same period in the prior year, the company earned $0.05 EPS. SoFi Technologies’s revenue for the quarter was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. On average, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SOFI shares. Barclays raised their price objective on shares of SoFi Technologies from $23.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 6th. Weiss Ratings restated a “hold (c)” rating on shares of SoFi Technologies in a research report on Wednesday, October 8th. UBS Group upped their price objective on shares of SoFi Technologies from $20.50 to $27.50 and gave the company a “neutral” rating in a research report on Thursday, October 30th. BTIG Research reissued a “neutral” rating on shares of SoFi Technologies in a research report on Wednesday, October 29th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $35.00 price target on shares of SoFi Technologies in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, SoFi Technologies currently has an average rating of “Hold” and an average target price of $25.50.

Insider Transactions at SoFi Technologies

In other news, CTO Jeremy Rishel sold 91,837 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $26.64, for a total transaction of $2,446,537.68. Following the sale, the chief technology officer directly owned 794,598 shares of the company’s stock, valued at $21,168,090.72. This represents a 10.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Kelli Keough sold 10,340 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $26.43, for a total transaction of $273,286.20. Following the completion of the transaction, the executive vice president owned 265,034 shares of the company’s stock, valued at $7,004,848.62. This trade represents a 3.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 157,777 shares of company stock worth $4,119,014. Corporate insiders own 2.60% of the company’s stock.

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.