Highland Capital Management LLC Cuts Stake in SoFi Technologies, Inc. $SOFI

Highland Capital Management LLC lessened its stake in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 83.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,784 shares of the company’s stock after selling 73,371 shares during the period. Highland Capital Management LLC’s holdings in SoFi Technologies were worth $269,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of SoFi Technologies by 1.1% in the first quarter. Vanguard Group Inc. now owns 99,467,295 shares of the company’s stock valued at $1,156,805,000 after acquiring an additional 1,130,250 shares in the last quarter. Sullivan Wood Capital Management LLC acquired a new position in SoFi Technologies in the 2nd quarter valued at $2,799,000. CMG Global Holdings LLC lifted its holdings in SoFi Technologies by 77.8% in the 1st quarter. CMG Global Holdings LLC now owns 140,389 shares of the company’s stock valued at $1,728,000 after purchasing an additional 61,443 shares in the last quarter. Nicholas Wealth LLC. acquired a new stake in SoFi Technologies during the 1st quarter worth $993,000. Finally, Quantitative Investment Management LLC purchased a new stake in shares of SoFi Technologies during the first quarter worth $2,862,000. 38.43% of the stock is currently owned by hedge funds and other institutional investors.

SoFi Technologies Trading Down 2.8%

Shares of SOFI stock opened at $25.24 on Monday. SoFi Technologies, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $30.30. The company has a 50 day moving average price of $25.03 and a 200 day moving average price of $18.23. The stock has a market capitalization of $30.22 billion, a P/E ratio of 52.58, a price-to-earnings-growth ratio of 3.00 and a beta of 1.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.14 and a current ratio of 0.80.

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

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction dated Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total value of $234,091.14. Following the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Jeremy Rishel sold 98,733 shares of the business’s 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 transaction, the chief technology officer directly owned 759,553 shares of the company’s stock, valued at approximately $20,887,707.50. This represents a 11.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 129,614 shares of company stock valued at $3,452,672. 2.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SOFI has been the topic of several research reports. JMP Securities reissued a “market perform” rating and issued a $17.00 price target on shares of SoFi Technologies in a research note on Monday, July 14th. Weiss Ratings reissued a “hold (c)” rating on shares of SoFi Technologies in a research note on Saturday, September 27th. Barclays upped their price target on SoFi Technologies from $18.00 to $21.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Redburn Atlantic upgraded SoFi Technologies to a “hold” rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods boosted their price objective on SoFi Technologies from $13.00 to $14.00 and gave the stock an “underperform” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, twelve have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $20.18.

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.