Cullen Frost Bankers Inc. Lowers Position in SoFi Technologies, Inc. $SOFI

Cullen Frost Bankers Inc. decreased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 33.1% during the second quarter, HoldingsChannel reports. The firm owned 3,254 shares of the company’s stock after selling 1,608 shares during the period. Cullen Frost Bankers Inc.’s holdings in SoFi Technologies were worth $59,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. lifted its stake in SoFi Technologies by 2,200.0% during the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after purchasing an additional 2,200 shares during the last quarter. Headlands Technologies LLC bought a new position in SoFi Technologies during the first quarter valued at approximately $28,000. SVB Wealth LLC bought a new position in SoFi Technologies during the first quarter valued at approximately $28,000. TD Private Client Wealth LLC grew its position 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 acquiring an additional 1,553 shares during the last quarter. Finally, Larson Financial Group LLC grew its position in SoFi Technologies by 127.1% during the first quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock valued at $32,000 after acquiring an additional 1,519 shares during the last quarter. Institutional investors own 38.43% of the company’s stock.

SoFi Technologies Stock Up 3.3%

NASDAQ SOFI opened at $29.01 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.80 and a quick ratio of 0.14. The stock has a market capitalization of $34.74 billion, a PE ratio of 60.44, a PEG ratio of 3.42 and a beta of 1.92. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $30.30. The business’s 50-day moving average is $26.63 and its 200 day moving average is $19.92.

SoFi Technologies (NASDAQ:SOFI) last posted its earnings results on Tuesday, July 29th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $519.37 million for the quarter, compared to analysts’ expectations of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.SoFi Technologies’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Sell-side analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Cowen assumed coverage on shares of SoFi Technologies in a research report on Friday, July 11th. They set a “hold” rating on the stock. TD Cowen started coverage on SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating and a $21.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on SoFi Technologies from $14.00 to $18.00 and gave the stock an “underperform” rating in a report on Wednesday, October 15th. Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a report on Friday, August 1st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of SoFi Technologies in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, twelve have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $21.18.

Insider Activity

In related news, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the sale, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This trade represents a 11.50% 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 10,036 shares of the firm’s stock in a transaction dated Monday, October 20th. The stock was sold at an average price of $28.33, for a total value of $284,319.88. Following the completion of the sale, the executive vice president directly owned 275,374 shares in the company, valued at $7,801,345.42. The trade was a 3.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 129,383 shares of company stock worth $3,513,171 over the last three months. 2.60% of the stock is owned by insiders.

SoFi Technologies 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.