Harbour Investments Inc. Reduces Position in SoFi Technologies, Inc. $SOFI

Harbour Investments Inc. lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 68,896 shares of the company’s stock after selling 1,684 shares during the period. Harbour Investments Inc.’s holdings in SoFi Technologies were worth $1,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SOFI. Brighton Jones LLC raised its stake in shares of SoFi Technologies by 2.0% during the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after acquiring an additional 14,281 shares in the last quarter. Farther Finance Advisors LLC raised its stake in shares of SoFi Technologies by 73.3% during the first quarter. Farther Finance Advisors LLC now owns 4,348 shares of the company’s stock valued at $52,000 after acquiring an additional 1,839 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of SoFi Technologies by 39.8% during the first quarter. GAMMA Investing LLC now owns 8,283 shares of the company’s stock valued at $96,000 after acquiring an additional 2,358 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of SoFi Technologies by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 450,089 shares of the company’s stock valued at $5,235,000 after acquiring an additional 8,432 shares in the last quarter. Finally, Dynamic Advisor Solutions LLC bought a new stake in shares of SoFi Technologies during the first quarter valued at approximately $174,000. Institutional investors own 38.43% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Rothschild & Co Redburn assumed coverage on shares of SoFi Technologies in a research note on Friday, August 1st. They set a “neutral” rating and a $20.50 price target for the company. Redburn Atlantic raised shares of SoFi Technologies to a “hold” rating in a research note on Friday, August 1st. Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating for the company. TD Cowen assumed coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating and a $21.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of SoFi Technologies from $13.00 to $18.00 and gave the stock an “underweight” rating in a research note on Monday, September 29th. One equities 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $20.71.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $26.54 on Friday. The business’s fifty day simple moving average is $26.13 and its 200-day simple moving average is $19.17. The company has a market cap of $31.78 billion, a PE ratio of 55.29, a PEG ratio of 3.16 and a beta of 1.92. The company has a current ratio of 0.80, a quick ratio of 0.14 and a debt-to-equity ratio of 0.57. SoFi Technologies, Inc. has a 12-month low of $8.60 and a 12-month high of $30.30.

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. The business had revenue of $519.37 million for the quarter, compared to the consensus estimate of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The business’s quarterly revenue was up 42.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Analysts expect that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 10,578 shares of the company’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the transaction, the executive vice president directly owned 234,622 shares of the company’s stock, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 transaction, 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 have sold 119,347 shares of company stock worth $3,228,852. Insiders own 2.60% of the company’s stock.

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.