Rockefeller Capital Management L.P. Sells 606,314 Shares of SoFi Technologies, Inc. $SOFI

Rockefeller Capital Management L.P. lowered its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 36.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,040,103 shares of the company’s stock after selling 606,314 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.09% of SoFi Technologies worth $18,940,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SOFI. Citizens Financial Group Inc. RI bought a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $438,000. Thoroughbred Financial Services LLC acquired a new stake in SoFi Technologies in the second quarter valued at approximately $234,000. Creative Planning grew its holdings in SoFi Technologies by 34.3% in the second quarter. Creative Planning now owns 169,059 shares of the company’s stock worth $3,079,000 after purchasing an additional 43,196 shares during the last quarter. Foundations Investment Advisors LLC grew its holdings in SoFi Technologies by 24.1% in the second quarter. Foundations Investment Advisors LLC now owns 26,924 shares of the company’s stock worth $490,000 after purchasing an additional 5,224 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey increased its position in shares of SoFi Technologies by 4.9% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 404,661 shares of the company’s stock worth $7,369,000 after purchasing an additional 18,830 shares in the last quarter. 38.43% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SOFI. The Goldman Sachs Group raised their price objective on SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their price objective on shares of SoFi Technologies from $18.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, October 29th. Needham & Company LLC boosted their target price on shares of SoFi Technologies from $29.00 to $36.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $25.06.

Insider Activity

In other news, CTO Jeremy Rishel sold 98,733 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief technology officer owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The sale 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 business’s stock in a transaction on Monday, October 20th. The shares were sold at an average price of $28.33, for a total transaction of $284,319.88. Following the completion of the transaction, the executive vice president owned 275,374 shares of the company’s stock, valued at approximately $7,801,345.42. This represents a 3.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 118,805 shares of company stock worth $3,279,080. 2.60% of the stock is owned by corporate insiders.

SoFi Technologies Stock Performance

Shares of NASDAQ SOFI opened at $26.24 on Wednesday. The company has a 50 day simple moving average of $28.14 and a two-hundred day simple moving average of $22.10. The stock has a market cap of $31.64 billion, a price-to-earnings ratio of 48.59, a PEG ratio of 2.64 and a beta of 1.93. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. SoFi Technologies, Inc. has a 12 month low of $8.60 and a 12 month high of $32.73.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.02. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The firm had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. During the same quarter last year, the company posted $0.05 earnings per share. The firm’s revenue was up 37.7% compared to the same quarter last year. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

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.