Pegasus Asset Management Inc. Acquires 5,564 Shares of SoFi Technologies, Inc. $SOFI

Pegasus Asset Management Inc. grew its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 4.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,451 shares of the company’s stock after acquiring an additional 5,564 shares during the quarter. Pegasus Asset Management Inc.’s holdings in SoFi Technologies were worth $2,357,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in SoFi Technologies by 1.1% during the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after acquiring an additional 1,130,250 shares during the last quarter. Sullivan Wood Capital Management LLC purchased a new position in shares of SoFi Technologies during the second quarter valued at approximately $2,799,000. CMG Global Holdings LLC increased its stake in shares of SoFi Technologies by 77.8% during the first quarter. CMG Global Holdings LLC now owns 140,389 shares of the company’s stock valued at $1,728,000 after buying an additional 61,443 shares during the period. Nicholas Wealth LLC. purchased a new position in shares of SoFi Technologies during the first quarter valued at approximately $993,000. Finally, Quantitative Investment Management LLC bought a new stake in shares of SoFi Technologies during the first quarter valued at approximately $2,862,000. Institutional investors own 38.43% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SOFI. Morgan Stanley lifted their price target on SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research report on Monday, September 29th. JMP Securities reissued a “market perform” rating and issued a $17.00 target price on shares of SoFi Technologies in a report on Monday, July 14th. Barclays upped their price target on SoFi Technologies from $18.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Cowen started coverage on SoFi Technologies in a research report on Friday, July 11th. They issued a “hold” rating for the company. Finally, Truist Financial set a $23.00 target price on SoFi Technologies in a research report on Monday, August 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, SoFi Technologies presently has a consensus rating of “Hold” and an average target price of $20.18.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $26.19 on Monday. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $30.30. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. The firm has a market capitalization of $31.36 billion, a P/E ratio of 54.57, a P/E/G ratio of 3.11 and a beta of 1.92. The stock has a 50 day moving average price of $25.59 and a 200 day moving average price of $18.73.

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

Insiders Place Their Bets

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