Harbour Investments Inc. Reduces Stake in SoFi Technologies, Inc. $SOFI

Harbour Investments Inc. reduced its position in SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,896 shares of the company’s stock after selling 1,684 shares during the period. Harbour Investments Inc.’s holdings in SoFi Technologies were worth $1,255,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of SOFI. Nuveen LLC purchased a new position in shares of SoFi Technologies in the 1st quarter worth $47,616,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of SoFi Technologies by 58.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 4,339,349 shares of the company’s stock worth $50,467,000 after buying an additional 1,598,721 shares during the last quarter. Valeo Financial Advisors LLC boosted its stake in shares of SoFi Technologies by 3,703.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 1,337,048 shares of the company’s stock worth $24,348,000 after buying an additional 1,301,899 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of SoFi Technologies by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock worth $1,156,805,000 after buying an additional 1,130,250 shares during the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in SoFi Technologies in the 1st quarter worth $9,715,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $27.50, for a total value of $2,715,157.50. Following the completion of the transaction, the chief technology officer owned 759,553 shares in the company, valued at approximately $20,887,707.50. This trade represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kelli Keough sold 10,578 shares of the business’s stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $22.13, for a total value of $234,091.14. Following the transaction, the executive vice president owned 234,622 shares of the company’s stock, valued at $5,192,184.86. This trade represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 119,347 shares of company stock valued at $3,228,852. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SOFI has been the topic of a number of recent research reports. Rothschild & Co Redburn initiated coverage on SoFi Technologies in a report on Friday, August 1st. They issued a “neutral” rating and a $20.50 target price on the stock. Citizens Jmp cut SoFi Technologies from a “strong-buy” rating to a “market perform” rating in a report on Monday, July 14th. Citigroup raised their target price on SoFi Technologies from $18.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, August 20th. Truist Financial set a $23.00 target price on SoFi Technologies in a report on Monday, August 4th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, SoFi Technologies has a consensus rating of “Hold” and a consensus price target of $20.71.

SoFi Technologies Trading Down 0.2%

Shares of SoFi Technologies stock opened at $26.54 on Friday. The firm has a market cap of $31.78 billion, a price-to-earnings ratio of 55.29, a PEG ratio of 3.16 and a beta of 1.92. SoFi Technologies, Inc. has a twelve month low of $8.60 and a twelve month high of $30.30. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57. The business has a 50-day moving average price of $26.13 and a 200-day moving average price of $19.17.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings results on Tuesday, July 29th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of $0.06 by $0.02. The company had revenue of $519.37 million during the quarter, compared to analyst estimates of $801.94 million. SoFi Technologies had a return on equity of 4.44% and a net margin of 18.38%.The firm’s revenue was up 42.8% on a year-over-year basis. During the same quarter last year, the business posted $0.01 earnings per share. SoFi Technologies has set its FY 2025 guidance at 0.310-0.310 EPS. Equities research analysts anticipate that SoFi Technologies, Inc. will post 0.26 EPS for the current fiscal year.

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.