Wealthspan Partners LLC Purchases New Position in SoFi Technologies, Inc. $SOFI

Wealthspan Partners LLC purchased a new stake in SoFi Technologies, Inc. (NASDAQ:SOFI) during the second quarter, HoldingsChannel.com reports. The firm purchased 33,327 shares of the company’s stock, valued at approximately $598,000.

Several other large investors have also recently added to or reduced their stakes in the company. Valley Wealth Managers Inc. acquired a new position in shares of SoFi Technologies in the 4th quarter worth approximately $25,000. Vermillion Wealth Management Inc. boosted its stake in SoFi Technologies by 283.1% in the fourth quarter. Vermillion Wealth Management Inc. now owns 1,000 shares of the company’s stock worth $26,000 after purchasing an additional 739 shares in the last quarter. Reflection Asset Management bought a new stake in shares of SoFi Technologies during the fourth quarter worth $28,000. Quaker Wealth Management LLC grew its holdings in shares of SoFi Technologies by 2,745.2% during the fourth quarter. Quaker Wealth Management LLC now owns 1,195 shares of the company’s stock worth $31,000 after purchasing an additional 1,153 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new stake in shares of SoFi Technologies in the fourth quarter valued at $34,000. 38.43% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Kelli Keough sold 10,954 shares of the stock in a transaction dated Monday, July 20th. The shares were sold at an average price of $17.19, for a total value of $188,299.26. Following the transaction, the executive vice president directly owned 367,728 shares of the company’s stock, valued at $6,321,244.32. This represents a 2.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Jeremy Rishel sold 102,123 shares of SoFi Technologies stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $17.78, for a total value of $1,815,746.94. Following the sale, the chief technology officer directly owned 895,089 shares of the company’s stock, valued at approximately $15,914,682.42. The trade was a 10.24% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 135,256 shares of company stock worth $2,370,822. 2.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SOFI. Citigroup dropped their target price on shares of SoFi Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $18.00 target price on shares of SoFi Technologies in a research note on Thursday, April 30th. Needham & Company LLC decreased their price target on SoFi Technologies from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. TD Cowen cut their target price on shares of SoFi Technologies from $24.00 to $18.00 and set a “hold” rating on the stock in a research report on Thursday, April 30th. Finally, Stephens lowered their price target on shares of SoFi Technologies from $26.00 to $25.00 and set an “overweight” rating for the company in a research report on Thursday, April 30th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, SoFi Technologies currently has a consensus rating of “Hold” and a consensus price target of $22.44.

SoFi Technologies Price Performance

Shares of SOFI stock opened at $18.29 on Monday. The firm has a fifty day moving average of $17.55 and a 200-day moving average of $17.81. SoFi Technologies, Inc. has a 12-month low of $14.88 and a 12-month high of $32.73. The company has a market capitalization of $23.62 billion, a price-to-earnings ratio of 38.10 and a beta of 2.17. The company has a quick ratio of 0.10, a current ratio of 0.74 and a debt-to-equity ratio of 0.30.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.11 billion. SoFi Technologies had a net margin of 14.78% and a return on equity of 6.22%. The firm’s revenue was up 42.5% compared to the same quarter last year. During the same period last year, the company earned $0.08 earnings per share. SoFi Technologies has set its FY 2026 guidance at 0.600-0.600 EPS. As a group, equities research analysts predict that SoFi Technologies, Inc. will post 0.6 earnings per share for the current fiscal 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.