Focus Partners Advisor Solutions LLC Reduces Position in SoFi Technologies, Inc. $SOFI

Focus Partners Advisor Solutions LLC trimmed its holdings in SoFi Technologies, Inc. (NASDAQ:SOFI) by 22.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 18,676 shares of the company’s stock after selling 5,549 shares during the quarter. Focus Partners Advisor Solutions LLC’s holdings in SoFi Technologies were worth $339,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Drive Wealth Management LLC raised its holdings in shares of SoFi Technologies by 1.4% in the second quarter. Drive Wealth Management LLC now owns 40,546 shares of the company’s stock worth $738,000 after buying an additional 563 shares during the period. USAdvisors Wealth Management LLC raised its holdings in shares of SoFi Technologies by 4.5% in the second quarter. USAdvisors Wealth Management LLC now owns 16,200 shares of the company’s stock worth $295,000 after buying an additional 700 shares during the period. D.A. Davidson & CO. raised its holdings in shares of SoFi Technologies by 0.7% in the second quarter. D.A. Davidson & CO. now owns 122,128 shares of the company’s stock worth $2,224,000 after buying an additional 798 shares during the period. Wedmont Private Capital raised its holdings in shares of SoFi Technologies by 4.3% in the second quarter. Wedmont Private Capital now owns 21,493 shares of the company’s stock worth $435,000 after buying an additional 879 shares during the period. Finally, Vermillion & White Wealth Management Group LLC grew its stake in SoFi Technologies by 16.7% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company’s stock worth $81,000 after acquiring an additional 1,000 shares in the last quarter. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on SOFI shares. The Goldman Sachs Group upped their target price on shares of SoFi Technologies from $24.00 to $27.00 and gave the stock a “neutral” rating in a research note on Wednesday. Keefe, Bruyette & Woods upped their target price on shares of SoFi Technologies from $18.00 to $20.00 and gave the stock an “underperform” rating in a research note on Wednesday. Cowen started coverage on shares of SoFi Technologies in a research note on Friday, July 11th. They issued a “hold” rating on the stock. JMP Securities reiterated a “market perform” rating and set a $17.00 price objective on shares of SoFi Technologies in a research note on Monday, July 14th. Finally, Mizuho set a $38.00 target price on SoFi Technologies in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $24.94.

SoFi Technologies Price Performance

Shares of SOFI opened at $29.03 on Friday. The company has a market cap of $34.76 billion, a price-to-earnings ratio of 53.76, a price-to-earnings-growth ratio of 3.13 and a beta of 1.92. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month high of $32.56. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The company has a 50 day moving average of $27.20 and a two-hundred day moving average of $20.40.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.02. The company had revenue of $949.63 million during the quarter, compared to the consensus estimate of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.52%. SoFi Technologies’s revenue was up 37.7% compared to the same quarter last year. During the same period last year, the firm earned $0.05 earnings per share. 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 fiscal year.

Insiders Place Their Bets

In related news, EVP Kelli Keough sold 10,578 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the completion of the transaction, the executive vice president owned 234,622 shares in the company, valued at $5,192,184.86. This trade represents a 4.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Jeremy Rishel sold 98,733 shares of the firm’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 transaction, 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 disclosure for this sale is available in the SEC filing. Insiders sold a total of 129,383 shares of company stock valued at $3,513,171 in the last 90 days. 2.60% of the stock is currently owned by company insiders.

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.