18,957 Shares in SoFi Technologies, Inc. $SOFI Acquired by Thrive Wealth Management LLC

Thrive Wealth Management LLC acquired a new position in SoFi Technologies, Inc. (NASDAQ:SOFI) during the third quarter, HoldingsChannel reports. The firm acquired 18,957 shares of the company’s stock, valued at approximately $501,000.

Several other hedge funds and other institutional investors have also made changes to their positions in SOFI. Brighton Jones LLC boosted its holdings in SoFi Technologies by 2.0% in the 4th quarter. Brighton Jones LLC now owns 719,288 shares of the company’s stock worth $11,077,000 after acquiring an additional 14,281 shares during the period. Russell Investments Group Ltd. raised its position in shares of SoFi Technologies by 75.7% during the 1st quarter. Russell Investments Group Ltd. now owns 92,343 shares of the company’s stock valued at $1,074,000 after acquiring an additional 39,779 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of SoFi Technologies by 71.7% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 46,049 shares of the company’s stock worth $536,000 after buying an additional 19,236 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in SoFi Technologies in the first quarter valued at approximately $473,000. Finally, American Century Companies Inc. boosted its position in SoFi Technologies by 2.5% during the 1st quarter. American Century Companies Inc. now owns 296,556 shares of the company’s stock valued at $3,449,000 after purchasing an additional 7,358 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Trading Up 2.9%

Shares of SOFI stock opened at $26.58 on Wednesday. The firm’s fifty day simple moving average is $28.26 and its 200 day simple moving average is $24.11. SoFi Technologies, Inc. has a 1 year low of $8.60 and a 1 year high of $32.73. The company has a current ratio of 0.80, a quick ratio of 0.16 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $32.05 billion, a P/E ratio of 49.22 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last released 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. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.12%. The business had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. During the same quarter last year, the company earned $0.05 earnings per share. The firm’s revenue was up 37.7% on a year-over-year basis. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. As a group, sell-side analysts predict that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SOFI shares. 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 report on Wednesday, October 29th. Jefferies Financial Group reaffirmed a “buy” rating and set a $35.00 target price on shares of SoFi Technologies in a research report on Tuesday, October 28th. Mizuho set a $38.00 price objective on shares of SoFi Technologies in a research note on Thursday, October 30th. Truist Financial dropped their target price on SoFi Technologies from $31.00 to $28.00 and set a “hold” rating on the stock in a report on Tuesday, November 25th. Finally, Citigroup upped their target price on SoFi Technologies from $28.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, twelve have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $25.69.

Insiders Place Their Bets

In related news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction dated Thursday, September 18th. The shares were sold at an average price of $27.50, for a total transaction of $2,715,157.50. Following the completion of the sale, the chief technology officer owned 759,553 shares in the company, valued at $20,887,707.50. This trade represents a 11.50% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Arun Pinto sold 46,132 shares of SoFi Technologies stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $24.76, for a total transaction of $1,142,228.32. Following the completion of the transaction, the insider owned 138,396 shares of the company’s stock, valued at $3,426,684.96. This trade represents a 25.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 175,277 shares of company stock worth $4,694,595 over the last quarter. Company insiders own 2.60% of the company’s stock.

SoFi Technologies Company Profile

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.