Means Investment CO. Inc. Purchases 5,800 Shares of SoFi Technologies, Inc. $SOFI

Means Investment CO. Inc. increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 12.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,138 shares of the company’s stock after buying an additional 5,800 shares during the period. Means Investment CO. Inc.’s holdings in SoFi Technologies were worth $986,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in SOFI. Hazlett Burt & Watson Inc. increased its position in SoFi Technologies by 2,200.0% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after purchasing an additional 2,200 shares during the period. Headlands Technologies LLC purchased a new stake in shares of SoFi Technologies in the 1st quarter worth approximately $28,000. SVB Wealth LLC bought a new position in shares of SoFi Technologies during the first quarter valued at approximately $28,000. TD Private Client Wealth LLC increased its holdings in SoFi Technologies by 153.9% during the second quarter. TD Private Client Wealth LLC now owns 2,562 shares of the company’s stock valued at $47,000 after buying an additional 1,553 shares during the period. Finally, Garde Capital Inc. purchased a new position in SoFi Technologies during the first quarter valued at approximately $31,000. 38.43% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at SoFi Technologies

In other SoFi Technologies news, EVP Kelli Keough sold 10,036 shares of the company’s stock in a transaction that occurred on Thursday, September 18th. The shares were sold at an average price of $27.86, for a total transaction of $279,602.96. Following the transaction, the executive vice president owned 285,410 shares in the company, valued at approximately $7,951,522.60. This represents a 3.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 129,614 shares of company stock worth $3,452,672. 2.60% of the stock is owned by insiders.

SoFi Technologies Trading Down 7.9%

Shares of NASDAQ:SOFI opened at $26.19 on Friday. The business’s 50-day moving average is $25.59 and its 200 day moving average is $18.68. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $30.30. The firm has a market capitalization of $31.36 billion, a P/E ratio of 54.57, a P/E/G ratio of 3.12 and a beta of 1.92.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share for the quarter, topping 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 business had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. During the same quarter last year, the company earned $0.01 earnings per share. The company’s quarterly revenue was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Citigroup upped their target price on SoFi Technologies from $18.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Truist Financial set a $23.00 price objective on SoFi Technologies in a research report on Monday, August 4th. Needham & Company LLC lifted their target price on SoFi Technologies from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. JMP Securities reissued a “market perform” rating and set a $17.00 price target on shares of SoFi Technologies in a research report on Monday, July 14th. Finally, Citizens Jmp cut shares of SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $20.18.

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.