Empowered Funds LLC Makes New $3.14 Million Investment in SoFi Technologies, Inc. $SOFI

Empowered Funds LLC bought a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the 2nd quarter, HoldingsChannel reports. The firm bought 174,961 shares of the company’s stock, valued at approximately $3,137,000.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. acquired a new stake in SoFi Technologies in the 2nd quarter worth about $1,298,925,000. North Dakota State Investment Board acquired a new position in shares of SoFi Technologies during the fourth quarter valued at approximately $1,044,000. Brighton Jones LLC raised its holdings 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 during the last quarter. Alberta Investment Management Corp purchased a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $13,299,000. Finally, Trek Financial LLC purchased a new position in shares of SoFi Technologies in the fourth quarter valued at approximately $3,865,000. Hedge funds and other institutional investors own 38.43% of the company’s stock.

SoFi Technologies Price Performance

NASDAQ:SOFI opened at $17.05 on Wednesday. SoFi Technologies, Inc. has a one year low of $14.88 and a one year high of $32.73. The stock has a market cap of $22.02 billion, a PE ratio of 35.52 and a beta of 2.20. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.10 and a current ratio of 0.74. The stock has a 50 day moving average price of $17.85 and a 200 day moving average price of $17.49.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. During the same period last year, the company earned $0.08 EPS. The company’s revenue for the quarter was up 42.5% on a year-over-year basis. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities research analysts expect that SoFi Technologies, Inc. will post 0.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SOFI. Truist Financial lifted their price target on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, August 12th. Mizuho decreased their price objective on SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, July 31st. The Goldman Sachs Group lifted their target price on shares of SoFi Technologies from $17.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, July 9th. Weiss Ratings raised shares of SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Wells Fargo & Company reduced their target price on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, SoFi Technologies currently has a consensus rating of “Hold” and a consensus target price of $22.42.

Insider Activity

In related news, EVP Kelli Keough sold 11,286 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the sale, the executive vice president directly owned 356,442 shares in the company, valued at approximately $6,415,956. This trade represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the business’s stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total transaction of $1,815,746.94. Following the completion of the transaction, the chief technology officer owned 895,089 shares in the company, valued at $15,914,682.42. The trade was a 10.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 136,505 shares of company stock valued at $2,418,096. 2.50% of the stock is owned by company insiders.

SoFi Technologies Profile

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.