Independent Financial Group LLC Makes New $1.38 Million Investment in SoFi Technologies, Inc. $SOFI

Independent Financial Group LLC bought a new stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 86,618 shares of the company’s stock, valued at approximately $1,376,000.

A number of other large investors also recently made changes to their positions in SOFI. Brighton Jones LLC increased its holdings in SoFi Technologies by 2.0% in the fourth quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock valued at $11,077,000 after purchasing an additional 14,281 shares during the last quarter. Caxton Associates LLP bought a new position in SoFi Technologies during the first quarter worth about $129,000. Empowered Funds LLC grew its position in shares of SoFi Technologies by 5.2% during the 1st quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock worth $385,000 after buying an additional 1,631 shares during the period. Franklin Resources Inc. increased its stake in shares of SoFi Technologies by 23.2% in the 2nd quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock valued at $251,000 after acquiring an additional 2,596 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of SoFi Technologies in the 2nd quarter valued at about $4,633,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Buying and Selling

In other news, CEO Anthony Noto bought 15,545 shares of the stock in a transaction on Monday, May 11th. The stock was purchased at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the acquisition, the chief executive officer owned 11,946,619 shares in the company, valued at approximately $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $17.78, for a total value of $1,815,746.94. Following the completion of the sale, the chief technology officer directly owned 895,089 shares in the company, valued at $15,914,682.42. This represents a 10.24% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last ninety days, insiders sold 134,044 shares of company stock valued at $2,370,056. Company insiders own 2.50% of the company’s stock.

Analysts Set New Price Targets

SOFI has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Argus assumed coverage on shares of SoFi Technologies in a research note on Wednesday, April 15th. They issued a “hold” rating for the company. Needham & Company LLC cut their target price on shares of SoFi Technologies from $33.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, April 30th. Barclays reduced their price target on shares of SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating on the stock in a research report on Monday, April 6th. Finally, Wells Fargo & Company decreased their price target on shares of SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating for the company in a report on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.78.

SoFi Technologies Stock Performance

Shares of SOFI opened at $17.28 on Monday. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.13 and a current ratio of 0.75. SoFi Technologies, Inc. has a twelve month low of $14.92 and a twelve month high of $32.73. The firm’s 50 day moving average price is $17.10 and its two-hundred day moving average price is $19.11. The firm has a market cap of $22.17 billion, a P/E ratio of 39.27 and a beta of 2.14.

SoFi Technologies (NASDAQ:SOFI) last issued its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.12. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the firm earned $0.06 earnings per share. The firm’s revenue was up 42.6% compared to the same quarter last year. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.59 EPS for the current fiscal year.

About SoFi Technologies

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.