Acorn Financial Advisory Services Inc. ADV Sells 623 Shares of SoFi Technologies, Inc. $SOFI

Acorn Financial Advisory Services Inc. ADV lowered its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 0.5% in the 2nd quarter, Holdings Channel reports. The firm owned 134,466 shares of the company’s stock after selling 623 shares during the quarter. Acorn Financial Advisory Services Inc. ADV’s holdings in SoFi Technologies were worth $2,449,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. NorthRock Partners LLC boosted its stake in SoFi Technologies by 17.6% in the 2nd quarter. NorthRock Partners LLC now owns 17,374 shares of the company’s stock worth $316,000 after purchasing an additional 2,601 shares during the period. Pegasus Asset Management Inc. raised its holdings in shares of SoFi Technologies by 4.5% in the 2nd quarter. Pegasus Asset Management Inc. now owns 129,451 shares of the company’s stock valued at $2,357,000 after acquiring an additional 5,564 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of SoFi Technologies by 12.0% in the 2nd quarter. MGO One Seven LLC now owns 18,316 shares of the company’s stock valued at $334,000 after acquiring an additional 1,958 shares in the last quarter. CWM LLC raised its holdings in shares of SoFi Technologies by 6.0% in the 2nd quarter. CWM LLC now owns 87,333 shares of the company’s stock valued at $1,590,000 after acquiring an additional 4,934 shares in the last quarter. Finally, Means Investment CO. Inc. raised its holdings in shares of SoFi Technologies by 12.0% in the 2nd quarter. Means Investment CO. Inc. now owns 54,138 shares of the company’s stock valued at $986,000 after acquiring an additional 5,800 shares in the last quarter. Institutional investors own 38.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on SOFI shares. Morgan Stanley raised their price objective on SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a report on Monday, September 29th. Rothschild & Co Redburn initiated coverage on SoFi Technologies in a report on Friday, August 1st. They set a “neutral” rating and a $20.50 price objective on the stock. The Goldman Sachs Group lifted their price target on SoFi Technologies from $21.00 to $24.00 and gave the stock a “neutral” rating in a research note on Monday. Redburn Atlantic raised SoFi Technologies to a “hold” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of SoFi Technologies in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, twelve have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, SoFi Technologies presently has an average rating of “Hold” and a consensus price target of $20.47.

Insider Buying and Selling at SoFi Technologies

In related news, 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 value of $279,602.96. Following the sale, the executive vice president directly owned 285,410 shares of the company’s stock, valued at $7,951,522.60. This represents a 3.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 98,733 shares of the company’s stock in a transaction on 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 completion of the sale, the chief technology officer directly owned 759,553 shares in the company, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 129,614 shares of company stock worth $3,452,672. 2.60% of the stock is owned by insiders.

SoFi Technologies Price Performance

SOFI opened at $27.14 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80. SoFi Technologies, Inc. has a 52-week low of $8.60 and a 52-week high of $30.30. The stock has a market capitalization of $32.50 billion, a PE ratio of 56.54, a price-to-earnings-growth ratio of 3.11 and a beta of 1.92. The stock’s 50 day moving average price is $25.69 and its 200-day moving average price is $18.84.

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, beating the consensus estimate of $0.06 by $0.02. The firm 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%.The business’s revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. On average, equities research analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

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.