SoFi Technologies, Inc. $SOFI Stake Lessened by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in SoFi Technologies, Inc. (NASDAQ:SOFI) by 83.3% during the 2nd quarter, HoldingsChannel reports. The fund owned 12,492 shares of the company’s stock after selling 62,147 shares during the period. Wellington Management Group LLP’s holdings in SoFi Technologies were worth $224,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its position in shares of 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 purchasing an additional 14,281 shares during the last quarter. Caxton Associates LLP bought a new position in shares of SoFi Technologies during the first quarter worth about $129,000. Empowered Funds LLC lifted its position in shares of SoFi Technologies by 5.2% during the first quarter. Empowered Funds LLC now owns 33,126 shares of the company’s stock worth $385,000 after purchasing an additional 1,631 shares during the last quarter. Franklin Resources Inc. grew its stake in SoFi Technologies by 23.2% in the second quarter. Franklin Resources Inc. now owns 13,796 shares of the company’s stock worth $251,000 after purchasing an additional 2,596 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in SoFi Technologies in the second quarter worth about $4,633,000. 38.43% of the stock is currently owned by institutional investors.

SoFi Technologies Price Performance

Shares of NASDAQ:SOFI opened at $17.32 on Friday. The company has a market cap of $22.37 billion, a PE ratio of 36.08, a P/E/G ratio of 1.42 and a beta of 2.20. SoFi Technologies, Inc. has a fifty-two week low of $14.88 and a fifty-two week high of $32.73. The firm has a 50-day simple moving average of $17.83 and a 200 day simple moving average of $17.41. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30.

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 company had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.11 billion. SoFi Technologies had a return on equity of 6.22% and a net margin of 14.78%.SoFi Technologies’s quarterly revenue was up 42.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. On average, sell-side analysts anticipate that SoFi Technologies, Inc. will post 0.61 EPS for the current year.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 11,286 shares of the business’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $18.00, for a total transaction of $203,148.00. Following the completion of the transaction, the executive vice president owned 356,442 shares in the company, valued at $6,415,956. The trade was a 3.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of the company’s stock in a transaction on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the transaction, the chief technology officer owned 895,089 shares of the company’s stock, valued at approximately $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. In the last three months, insiders sold 136,505 shares of company stock worth $2,418,096. Company insiders own 2.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SOFI. Scotiabank began coverage on SoFi Technologies in a research note on Wednesday, September 2nd. They set a “sector outperform” rating and a $25.00 price objective on the stock. Weiss Ratings upgraded SoFi Technologies from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. Needham & Company LLC lowered their price target on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Truist Financial upped their price target on SoFi Technologies from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, August 12th. 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, eleven have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.52.

About SoFi Technologies

SoFi Technologies, Inc is a financial technology company that provides digital financial services to consumers in the United States. The company began in 2011 as a platform focused on student loan refinancing and has expanded into a broader range of lending, banking and investment products.

Through its SoFi platform, the company offers personal loans, student loans, home loans, checking and savings accounts, credit cards, brokerage and investing services, and financial planning tools. Its products are primarily delivered through digital channels, including its website and mobile applications.

SoFi also operates a technology platform business through Galileo Financial Technologies and Technisys, which provide payment, account-management and other financial infrastructure to banks, fintech companies and other businesses.