US Bancorp DE Trims Holdings in SoFi Technologies, Inc. $SOFI

US Bancorp DE trimmed its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 11.8% during the second quarter, Holdings Channel.com reports. The fund 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 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in SOFI. Hazlett Burt & Watson Inc. raised its stake in shares of SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock valued at $27,000 after acquiring an additional 2,200 shares during the period. Headlands Technologies LLC acquired a new position in shares of SoFi Technologies in the first quarter valued at approximately $28,000. SVB Wealth LLC acquired a new position in shares of SoFi Technologies in the first quarter valued at approximately $28,000. Garde Capital Inc. acquired a new position in shares of SoFi Technologies in the first quarter valued at approximately $31,000. Finally, Larson Financial Group LLC grew its holdings in shares of SoFi Technologies by 127.1% in the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock valued at $32,000 after purchasing an additional 1,519 shares in the last quarter. 38.43% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on SOFI shares. Mizuho lifted 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. Barclays lifted their price objective on shares of SoFi Technologies from $18.00 to $21.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Citigroup lifted their price objective on shares of SoFi Technologies from $18.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, August 20th. Rothschild & Co Redburn initiated coverage on shares of SoFi Technologies in a report on Friday, August 1st. They set a “neutral” rating and a $20.50 price target for the company. Finally, Needham & Company LLC boosted their price target on shares of SoFi Technologies from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, September 10th. One 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 stock. Based on data from MarketBeat, SoFi Technologies has an average rating of “Hold” and an average price target of $20.71.

SoFi Technologies Stock Down 0.2%

SOFI stock opened at $26.54 on Monday. The company has a fifty day moving average price of $26.13 and a 200 day moving average price of $19.27. SoFi Technologies, Inc. has a 12 month low of $8.60 and a 12 month high of $30.30. The company has a market cap of $31.78 billion, a price-to-earnings ratio of 55.29, a price-to-earnings-growth ratio of 3.15 and a beta of 1.92. 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 (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. SoFi Technologies had a net margin of 18.38% and a return on equity of 4.44%. The firm had revenue of $519.37 million during the quarter, compared to the consensus estimate of $801.94 million. During the same quarter in the prior year, the firm earned $0.01 EPS. SoFi Technologies’s revenue for the quarter was up 42.8% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of the company’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This represents a 11.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 10,036 shares of the company’s stock in a transaction on Thursday, September 18th. The stock was 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 of the company’s stock, valued at approximately $7,951,522.60. The trade was a 3.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,347 shares of company stock valued at $3,228,852. 2.60% of the stock is owned by insiders.

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.