Moors & Cabot Inc. Has $12.57 Million Stock Holdings in SoFi Technologies, Inc. $SOFI

Moors & Cabot Inc. cut its position in shares of SoFi Technologies, Inc. (NASDAQ:SOFI) by 2.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 690,014 shares of the company’s stock after selling 18,665 shares during the period. Moors & Cabot Inc. owned 0.06% of SoFi Technologies worth $12,565,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in SOFI. Hazlett Burt & Watson Inc. grew its position in SoFi Technologies by 2,200.0% in the first quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company’s stock worth $27,000 after acquiring an additional 2,200 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of SoFi Technologies in the first quarter valued at about $28,000. SVB Wealth LLC bought a new position in shares of SoFi Technologies in the first quarter worth about $28,000. Larson Financial Group LLC lifted its position in shares of SoFi Technologies by 127.1% during the 1st quarter. Larson Financial Group LLC now owns 2,714 shares of the company’s stock worth $32,000 after purchasing an additional 1,519 shares during the last quarter. Finally, MCF Advisors LLC boosted its stake in SoFi Technologies by 119.3% during the 1st quarter. MCF Advisors LLC now owns 3,072 shares of the company’s stock valued at $36,000 after purchasing an additional 1,671 shares during the period. Institutional investors and hedge funds own 38.43% of the company’s stock.

SoFi Technologies Stock Down 4.1%

Shares of NASDAQ:SOFI opened at $29.37 on Wednesday. The company’s fifty day moving average is $27.46 and its 200-day moving average is $20.93. 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, Inc. has a 52 week low of $8.60 and a 52 week high of $32.56. The company has a market capitalization of $35.17 billion, a PE ratio of 54.39, a P/E/G ratio of 3.11 and a beta of 1.93.

SoFi Technologies (NASDAQ:SOFI) last announced its earnings results on Tuesday, October 28th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.02. The business had revenue of $949.63 million during the quarter, compared to analysts’ expectations of $880.33 million. SoFi Technologies had a net margin of 19.29% and a return on equity of 5.52%. The firm’s revenue for the quarter was up 37.7% on a year-over-year basis. During the same quarter last year, the company posted $0.05 EPS. SoFi Technologies has set its FY 2025 guidance at 0.370-0.370 EPS. Equities research analysts predict that SoFi Technologies, Inc. will post 0.26 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on SOFI. JPMorgan Chase & Co. increased their price objective on SoFi Technologies from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. TD Cowen began coverage on shares of SoFi Technologies in a report on Friday, July 11th. They issued a “hold” rating and a $21.00 price target for the company. Rothschild & Co Redburn started coverage on shares of SoFi Technologies in a report on Friday, August 1st. They set a “neutral” rating and a $20.50 price objective on the stock. Morgan Stanley upped their target price on SoFi Technologies from $13.00 to $18.00 and gave the company an “underweight” rating in a research note on Monday, September 29th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of SoFi Technologies in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $25.06.

Insider Activity at SoFi Technologies

In related news, EVP Kelli Keough sold 10,578 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $22.13, for a total transaction of $234,091.14. Following the sale, the executive vice president directly owned 234,622 shares in the company, valued at $5,192,184.86. This represents a 4.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Jeremy Rishel sold 98,733 shares of SoFi Technologies stock in a transaction on Thursday, September 18th. The shares were 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 of the company’s stock, valued at approximately $20,887,707.50. The trade was a 11.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 129,383 shares of company stock worth $3,513,171 over the last three months. 2.60% of the stock is owned by company insiders.

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.