NewEdge Advisors LLC Grows Stock Position in SoFi Technologies, Inc. $SOFI

NewEdge Advisors LLC increased its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 24.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 402,635 shares of the company’s stock after purchasing an additional 79,819 shares during the period. NewEdge Advisors LLC’s holdings in SoFi Technologies were worth $6,394,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Cozad Asset Management Inc. purchased a new position in shares of SoFi Technologies during the first quarter valued at approximately $334,000. Vestor Capital LLC boosted its holdings in SoFi Technologies by 549.3% during the 1st quarter. Vestor Capital LLC now owns 6,532 shares of the company’s stock valued at $104,000 after acquiring an additional 5,526 shares during the period. BankChampaign National Association bought a new position in SoFi Technologies in the 1st quarter valued at $254,000. Norris Financial Group LLC bought a new position in SoFi Technologies in the 1st quarter valued at $828,000. Finally, Western Wealth Management LLC purchased a new stake in SoFi Technologies in the first quarter worth $110,000. 38.43% of the stock is currently owned by institutional investors.

Insider Activity at SoFi Technologies

In other news, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was 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 directly owned 895,089 shares of the company’s stock, valued at $15,914,682.42. This represents a 10.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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. Also, EVP Kelli Keough sold 10,954 shares of the company’s stock in a transaction on Monday, July 20th. The stock was sold at an average price of $17.19, for a total transaction of $188,299.26. Following the transaction, the executive vice president owned 367,728 shares of the company’s stock, valued at $6,321,244.32. This represents a 2.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 135,256 shares of company stock valued at $2,370,822. Insiders own 2.50% of the company’s stock.

Analyst Ratings Changes

SOFI has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of SoFi Technologies from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Thursday, July 30th. Morgan Stanley lowered their price objective on shares of SoFi Technologies from $16.00 to $15.00 and set an “underweight” rating for the company in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $18.00 target price on shares of SoFi Technologies in a research report on Thursday, April 30th. Citigroup decreased their price target on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Finally, UBS Group dropped their price objective on SoFi Technologies from $24.50 to $21.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Seven research analysts have rated the stock with a Buy rating, ten have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $22.38.

SoFi Technologies Trading Down 1.4%

NASDAQ SOFI opened at $18.12 on Tuesday. SoFi Technologies, Inc. has a 12-month low of $14.88 and a 12-month high of $32.73. The company has a fifty day simple moving average of $17.45 and a two-hundred day simple moving average of $18.03. The company has a current ratio of 0.75, a quick ratio of 0.13 and a debt-to-equity ratio of 0.17. The stock has a market cap of $23.24 billion, a P/E ratio of 37.75 and a beta of 2.17.

SoFi Technologies (NASDAQ:SOFI) last issued its earnings results on Wednesday, July 29th. The company reported $0.12 EPS for the quarter, beating analysts’ consensus estimates 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 6.39% and a net margin of 14.78%.SoFi Technologies’s revenue for the quarter was up 42.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, analysts forecast that SoFi Technologies, Inc. will post 0.61 earnings per share for the current year.

SoFi Technologies Company 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.