Fortis Capital Advisors LLC Makes New $812,000 Investment in SoFi Technologies, Inc. $SOFI

Fortis Capital Advisors LLC bought a new position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) during the 2nd quarter, Holdings Channel.com reports. The firm bought 44,567 shares of the company’s stock, valued at approximately $812,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Wedmont Private Capital lifted its holdings in SoFi Technologies by 4.3% during the 2nd quarter. Wedmont Private Capital now owns 21,493 shares of the company’s stock worth $435,000 after buying an additional 879 shares during the period. Bank of New Hampshire raised its position in shares of SoFi Technologies by 33.3% in the 1st quarter. Bank of New Hampshire now owns 4,000 shares of the company’s stock worth $47,000 after acquiring an additional 1,000 shares in the last quarter. Vermillion & White Wealth Management Group LLC raised its position in shares of SoFi Technologies by 16.7% in the 1st quarter. Vermillion & White Wealth Management Group LLC now owns 7,000 shares of the company’s stock worth $81,000 after acquiring an additional 1,000 shares in the last quarter. Arkadios Wealth Advisors raised its position in shares of SoFi Technologies by 1.8% in the 1st quarter. Arkadios Wealth Advisors now owns 63,404 shares of the company’s stock worth $737,000 after acquiring an additional 1,092 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in shares of SoFi Technologies by 0.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 330,122 shares of the company’s stock worth $6,012,000 after acquiring an additional 1,193 shares in the last quarter. 38.43% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SOFI has been the subject of several research analyst reports. Needham & Company LLC lifted their price objective on SoFi Technologies from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, September 10th. TD Cowen initiated coverage on SoFi Technologies in a research report on Friday, July 11th. They issued a “hold” rating and a $21.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a research report on Saturday, September 27th. Stephens initiated coverage on SoFi Technologies in a research report on Thursday, June 12th. They issued an “overweight” rating and a $20.00 price objective for the company. Finally, Citigroup lifted their price objective on SoFi Technologies from $18.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, August 20th. One equities research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $20.18.

SoFi Technologies Price Performance

Shares of NASDAQ SOFI opened at $25.24 on Friday. SoFi Technologies, Inc. has a twelve month low of $7.90 and a twelve month high of $30.30. The stock’s 50 day moving average price is $25.03 and its 200-day moving average price is $18.15. The company has a market capitalization of $30.22 billion, a PE ratio of 52.58, a PEG ratio of 3.09 and a beta of 1.92. The company has a quick ratio of 0.14, a current ratio of 0.80 and a debt-to-equity ratio of 0.57.

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

Insider Buying and Selling at SoFi Technologies

In related news, CTO Jeremy Rishel sold 98,733 shares of the stock in a transaction on 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 transaction, the chief technology officer owned 759,553 shares of the company’s stock, valued at $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kelli Keough sold 10,578 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 234,622 shares in the company, valued at approximately $5,192,184.86. This represents a 4.31% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 129,614 shares of company stock worth $3,452,672. Insiders own 2.60% of the company’s stock.

About SoFi Technologies

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.