TD Waterhouse Canada Inc. Acquires 114,652 Shares of SoFi Technologies, Inc. $SOFI

TD Waterhouse Canada Inc. lifted its holdings in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 470.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 139,046 shares of the company’s stock after acquiring an additional 114,652 shares during the period. TD Waterhouse Canada Inc.’s holdings in SoFi Technologies were worth $2,561,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SOFI. Valley Wealth Managers Inc. acquired a new position in SoFi Technologies during the 4th quarter valued at about $25,000. Vermillion Wealth Management Inc. raised its stake in shares of SoFi Technologies by 283.1% during the 4th quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 739 shares during the period. Reflection Asset Management bought a new stake in SoFi Technologies in the fourth quarter worth about $28,000. Cornerstone Planning Group LLC lifted its stake in SoFi Technologies by 232.1% in the first quarter. Cornerstone Planning Group LLC now owns 2,099 shares of the company’s stock valued at $34,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Compass Financial Management LLC bought a new position in shares of SoFi Technologies during the 2nd quarter worth $34,000. Institutional investors and hedge funds own 38.43% of the company’s stock.

Insider Activity at SoFi Technologies

In other news, EVP Kelli Keough sold 11,286 shares of the company’s stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $18.00, for a total value of $203,148.00. Following the completion of the sale, the executive vice president owned 356,442 shares of the company’s stock, valued at approximately $6,415,956. This represents a 3.07% decrease in their position. The sale 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 stock in a transaction on 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 transaction, the chief technology officer directly owned 895,089 shares in the company, valued at approximately $15,914,682.42. This represents a 10.24% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold 136,505 shares of company stock worth $2,418,096 over the last three months. Insiders own 2.50% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SOFI shares. Mizuho reduced their target price on shares of SoFi Technologies from $29.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, July 31st. Truist Financial increased their target price on SoFi Technologies from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, August 12th. Morgan Stanley reduced their price target on SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Needham & Company LLC reduced their target price on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Finally, The Goldman Sachs Group upped their price target on SoFi Technologies from $17.00 to $21.00 and gave the company a “neutral” rating in a research report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $22.55.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $18.22 on Tuesday. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $17.89 and a two-hundred day moving average price of $17.45. SoFi Technologies, Inc. has a 12-month low of $14.88 and a 12-month high of $32.73. The firm has a market cap of $23.53 billion, a P/E ratio of 37.96, a price-to-earnings-growth ratio of 1.50 and a beta of 2.20.

SoFi Technologies (NASDAQ:SOFI) last announced its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. The firm had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.The company’s revenue was up 42.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.08 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. Equities analysts anticipate that SoFi Technologies, Inc. will post 0.61 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.