Independent Financial Group LLC Invests $1.38 Million in SoFi Technologies, Inc. $SOFI

Independent Financial Group LLC acquired a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 86,618 shares of the company’s stock, valued at approximately $1,376,000.

A number of other institutional investors have also made changes to their positions in the business. Valley Wealth Managers Inc. acquired a new position in SoFi Technologies during the fourth quarter worth $25,000. Vermillion Wealth Management Inc. grew its position in SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock valued at $26,000 after purchasing an additional 739 shares in the last quarter. Blue Trust Inc. increased its stake in SoFi Technologies by 655.2% in the 4th quarter. Blue Trust Inc. now owns 1,012 shares of the company’s stock valued at $26,000 after buying an additional 878 shares during the last quarter. Reflection Asset Management acquired a new stake in SoFi Technologies in the 4th quarter valued at $28,000. Finally, Central Pacific Bank Trust Division bought a new stake in SoFi Technologies during the 4th quarter worth about $28,000. Institutional investors own 38.43% of the company’s stock.

Insiders Place Their Bets

In other SoFi Technologies news, EVP Kelli Keough sold 10,954 shares of the business’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $17.35, for a total transaction of $190,051.90. Following the transaction, the executive vice president owned 378,682 shares of the company’s stock, valued at $6,570,132.70. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony Noto acquired 15,545 shares of the company’s stock in a transaction on Monday, May 11th. The stock was acquired at an average price of $16.00 per share, for a total transaction of $248,720.00. Following the purchase, the chief executive officer directly owned 11,946,619 shares of the company’s stock, valued at approximately $191,145,904. This trade represents a 0.13% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders have sold a total of 134,044 shares of company stock valued at $2,370,056 over the last 90 days. 2.50% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

SOFI has been the subject of a number of recent research reports. Weiss Ratings downgraded shares of SoFi Technologies from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, May 26th. Stephens lowered their target price on SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Wells Fargo & Company dropped their target price on SoFi Technologies from $19.00 to $18.00 and set an “equal weight” rating on the stock in a report on Thursday, April 9th. Barclays reduced their price target on SoFi Technologies from $28.00 to $18.00 and set an “equal weight” rating for the company in a research report on Monday, April 6th. Finally, Morgan Stanley set a $16.00 price target on SoFi Technologies in a research note on Thursday, April 30th. Seven analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $22.78.

SoFi Technologies Stock Performance

Shares of SOFI stock opened at $17.28 on Monday. The company has a fifty day moving average price of $17.10 and a two-hundred day moving average price of $19.11. SoFi Technologies, Inc. has a one year low of $14.92 and a one year high of $32.73. The stock has a market cap of $22.17 billion, a P/E ratio of 39.27 and a beta of 2.14. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.75 and a quick ratio of 0.13.

SoFi Technologies (NASDAQ:SOFI) last released its quarterly earnings data on Wednesday, April 29th. The company reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12. The company had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.05 billion. SoFi Technologies had a net margin of 14.65% and a return on equity of 6.25%. SoFi Technologies’s revenue for the quarter was up 42.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.06 EPS. SoFi Technologies has set its FY 2026 guidance at 0.600- EPS. As a group, equities analysts predict that SoFi Technologies, Inc. will post 0.59 EPS for the current year.

About SoFi Technologies

SoFi Technologies, Inc (NASDAQ: SOFI) is a diversified financial services company that provides consumer-focused lending, banking, investing and financial technology products. The company’s core offerings include student loan refinancing and private student loans, personal loans, mortgage lending, and credit card products. In addition to credit and lending, SoFi operates consumer-facing deposit and cash management accounts, an investing and trading platform, and an insurance marketplace through partner relationships, all designed to serve individuals seeking an integrated digital financial experience.

SoFi has grown beyond direct-to-consumer lending by building technology and infrastructure capabilities.